Verisk CargoNet Reports Persistent Labor Day Cargo Theft Exposure Across U.S. Freight Networks

Verisk's CargoNet unit analyzed 273 cargo thefts during Labor Day holiday windows from 2021 through 2025, finding annual incidents rose from 33 in 2021 to 56 in 2025, a 70% increase, with a five-year high of 70 in 2024. Theft clustered on business days framing the holiday — Thursday, Friday, Tuesday, and Wednesday carried 71% of incidents — because deceptive pickup and identity-based fraud schemes depend on live staff, active phone lines, and freight moving through normal channels. California, Texas, and Illinois accounted for 48% of the incidents, led by California with 70, and CargoNet estimated total stolen commodity value at approximately $31.8 million across the five-year analysis.

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