U.S. transportation and logistics employment climbed 3.5% on a year earlier in October. That was the fastest since December 2015 and double the economy-wide rate of 1.7%. E-commerce has been the major driver – courier employment surged 8.6% – though none of the logistics subsectors saw a decline. Yet, the upbeat employment figures have a darker side. Rising employment is leading to higher labor costs which has taken a toll on the profitability of the third party logistics firms (3PLs). As a group the 3PLs may already have seen a decline in their EBITDA margin to 10.0% from...