Trucking’s historic slump: How overcapacity and undocumented drivers reshaped the industry

The trucking industry has faced its longest and deepest downturn in history, beginning in March 2022. This prolonged slump, known as the Great Freight Recession, has driven many trucking companies out of business. A sluggish goods economy contributed, but the primary cause is excess capacity. During the COVID-19 pandemic, high freight rates and government stimulus, […] The post Trucking’s historic slump: How overc…