Sunday, October 5, 2008

US Transportation payrolls fell more than 16 percent

AP - Friday October 3, 1:55 pm ET

September payrolls fell more than 16 percent in the transportation sector

NEW YORK (AP) -- The Labor Department's nonfarm payrolls report for September showed a drop of 16.1 percent from August in the transportation and warehousing segment of the report.

On Friday the department said employers cut payrolls by 159,000, the most in more than five years. That included a 12.3 percent decline in trucking payrolls, a 4.6 percent drop in air transportation payrolls and a 1 percent dip in water transport payrolls.

Rail payrolls increased 1.2 percent, and transit and ground passenger transportation payrolls climbed 3.8 percent from the previous month.

A number of smaller, privately owned trucking companies have cut jobs or closed completely as the slowing economy squeezes freight volumes to companies with fewer orders for retail and wholesale goods. Some airlines have furloughed pilots, flight attendants and other personnel as they cut capacity.

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