Rail employment hits new low in November
Written by David C. Lester, Editor-in-Chief
New report shows electric power demand dropped during 2020 due to pandemic.
Freightwaves is reporting that Surface Transportation Board data indicates that November 2019 Class 1 employment totals were 133,225, or 10.6% lower than November 2018.
Not only was this the lowest point for 2019, it was the lowest point during the last five years. The November numbers revealed that workers in train and engine service dropped 13.7%, while those in equipment maintenance and stores dropped 15%.
Rail analyst Bascome Majors said that “headcount within the volume-sensitive transportation [and engine crew] segment fell 13.7% y/y, marking the seventh straight month of declines and the greatest reduction in over three years, as persistent volume weakness and PSR-releated efficiencies continue to drive down the T&E headcount needs.”
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