Concerns about shortages in labor and goods continue to grow.
President Biden spoke on Tuesday with the chief executives at Walmart, United Parcel Service, FedEx, and Target to discuss speeding up deliveries and lowering prices for consumers.
A report from the White House said, “During the conversations, President Biden received updates from these private sector leaders on the efforts they’re taking to speed up throughput in our entire goods movement supply chain and discussed how shelves will be well-stocked this holiday season.”
The president has been organizing an effort to clear transportation bottlenecks, ease semiconductor shortages, and pass spending bills that officials hope will ease long-term inflation
Consumer prices rose more than 5 percent over the government fiscal year that ended in September, according to the Labor Department, and consumers and retailers alike are concerned about labor and goods shortages which have increased ahead of the holiday season.
A recent report showed the ongoing truck driver shortage is now estimated at 80,000, up from 61,000 just three years ago. The American Trucking Association estimates that the industry will have to recruit 1 million new drivers within the next nine years to replace retiring drivers.
As the Lord Leads, Pray with Us…
- For government officials seeking to support the economy and supply chain.
- For the president and his advisors as they strategize efforts to improve the transportation of goods.
- For transport companies as they seek more drivers for both the big rig 18-wheelers and local deliveries.
Sources: Reuters, Newsmax, Fortune
