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Unsurprisingly, truck drivers have suffered an absolute bloodbath - losing approximately 88,300 jobs in April alone, according to Business Insider, which notes that it's the largest single-month loss of trucking jobs on record (with records going back to 1990).
According to data from freight and analytics firm DAT, rates as of April 30 had fallen to five-year lows for both the reefer and flatbed equipment categories. For dry van freight, the national average was just $1.64 per mile.
In some areas, drivers are being offered rates of less than $1 per mile.
TRUCKERS ASK FOR CORONAVIRUS PHASE-FOUR AID TO HELP BOOST SHIPPING RATES
There is a debate within the industry over whether natural market forces or brokers are to blame for driving rates lower. Brokers help coordinate the transaction between the trucker and the shipper and make a profit margin off of the spread.