Now that we are seeing layoffs at NorthWest, United, US Air. and many others, airfreight will also be affected, with fewer flights to choose from each day. Road traffic should increase, as more citizens take to driving rather than flying. The auto trade will suffer as people are reluctant to make large purchases in times of unrest. Many of those laid off in hotels and tourist attractions will be moving to jobs in the security and building portection industries. Anyone with skills such as cctv installation, or fibre optic cable techs, will be assured of steady work, as most companies up-grade their surveillance equipment, and add lighting and more effective fences at their locations.
The down turn will hit those who are traditionally first out in a lay off, namely those with low levels of education, few/no marketable skills beyond a strong back, and little seniority. The ability to drive a truck will not be worth much when there are thousands of unemployed truck drivers, due to the combination of the economic slow-down, and forced layoffs due to the contraction of the economy. The insurance industry alone will be very hard hit, with many companies near to bankruptcy, due to the enormous losses of the last few weeks. Private companies will be looking for any way they can find to cut shipping costs, and high cost expedite rates will be a thing of the past . If the present expedite companies want to survive at all, they will have to cut their rates, while improving service, to compete with the traditional freight transport companies, who will be scrambling to keep up their incomes.
It will be a challenge to survive, let alone make a profit, in my opinion. Jim Bunting. PS No longer with Dynamex, running local in Ontario, home everynight, and loving it.