As nation adds jobs, trucking loses 6,300
While U.S. employers added 287,000 jobs in June, the trucking industry lost 6,300 jobs, according to the Department of Labor's Employment Situation report.
The seasonally adjusted data reveals the largest month-to-month reduction in 2016 and 6,600 less jobs than June 2015. The industry is in the midst of five straight months of employment decline.
"It's reflective of a tough freight environment right now. It's not just the freight levels, but up until recently the industry had been adding capacity. We had more supply, demand is tough, and you add it all up and everything is a little tough now," said Bob Costello, chief economist at the American Trucking Associations.
"I'm hoping we're near the bottom and that things will slowly start to move in the right direction," Costello said.
-- Emma N. Hurt
Wal-Mart ships free during Amazon sale
Wal-Mart Stores Inc. took another jab at Amazon.com just before its Prime Day event, offering free shipping to customers for all online orders this week.
The Bentonville-based retailer waived the $50 minimum purchase requirement normally needed to receive free shipping on online orders through Friday. Wal-Mart also is offering discounts on televisions, laptops and toys.
The announcement was in response to Amazon's one-day, event known as Prime Day, which is being held today and is reserved for customers who subscribe to a $99-per-year service.
Wal-Mart didn't mention Amazon by name, but it has been aggressive in its efforts to rival the e-commerce giant and boost its own slowing online sales.
Wal-Mart said last month that it would offer a free 30-day trial of its ShippingPass program -- the company's answer to Amazon Prime -- to its customers. The service normally costs $49 a year for subscribers and offers unlimited two-day shipping. Amazon Prime also offers free unlimited shipping.
-- Robbie Neiswanger
New earnings season starts; state index up
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 2.72 to 337.04 on Monday.
"Despite projections for a 5.7 percent year-over-year decline in S&P 500 profits, the major averages closed higher as the earnings season opens," said Bob Williams, senior vice president and managing director of Simmons First Investment Group Inc. in Little Rock.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 07/12/2016