There is a severe shortage of truck drivers in the United States. Many people don’t realize this, but the shortage has been a problem for over a decade. This shortage primarily impacts the over-the-road truckload sector. The shortages don’t affect private fleets.
One factor contributing to the shortage of truck drivers is the number of people trying to break into the trucking industry. However, new drivers rarely stay at the first company they join. In addition, most of them fall prey to predatory practices. The shortage of truck drivers isn’t unique to the US, but it is a widespread problem in the world.
The shortage has been compounded by low pay. Since the 1980s, the median wage for a truck driver has fallen 21%. Currently, the average truck driver can’t afford to live on the road. This has prompted many top fleet companies to restructure their pay structure.
What is Causing the US Truck Driver Shortage?
A shortage of truck drivers is a growing concern for American consumers and businesses. With rising retail prices and emptied shelves, there is a growing need for more truck drivers to meet the increased demand for products. The shortage has also been contributing to the rise of shipping costs. While millennials and baby boomers have been entering the transportation workforce, there is not enough supply to fill the gap.
The shortage is largely due to high driver turnover rates. These turnover rates have been above 90 percent for some time. This is not because truck drivers are unhappy with their jobs, but because they are looking for better pay, benefits, and working conditions. While truck drivers used to make decent money, wages have not kept up with the rising cost of living.
According to the American Trucking Association (ATA), there are 51,000 unfilled positions nationwide. That’s up from 36,500 in 2016 and 20,000 in 2013. By 2021, this gap will rise to 100,000. The US trucking industry is expected to grow by 3% each year, so the need for truck drivers will only increase.
Is There a Shortage of Truckers in the US?
The trucking industry is one of the largest occupations in the United States, with over 2 million tractor-trailer drivers working in the U.S., according to the American Trucking Association. But there is a shortage of long-haul truck drivers, which means drivers who travel across state lines. According to the ATA, the US trucking industry is currently short anywhere from 300,000 to 500,000 long-haul truckers. Every year, the government issues more than four hundred thousand commercial driver’s licenses. While many new commercial drivers enter the industry, it isn’t enough to fill all of the available positions in long-haul trucking.
According to the trucking industry’s own statistics, the shortage of truckers in the United States is not a new problem. However, the current shortage is the result of disruptions in the supply chain. A recent outbreak of the Ebola virus and the Russian invasion of Ukraine have put a dent in the trucking industry’s labor market. However, these disruptions also brought to light long-standing problems with the trucking industry. The short and long of the issue is that trucking doesn’t pay enough.
Is 2022 a Good Year to Get into Trucking?
The trucking industry has had some challenging times in recent years. Fuel costs and inflation have driven up costs for most goods. A recovery in the economy could also hurt the trucking industry, as it will cost more to buy and maintain trucks. However, the recent recovery has provided some positives for the industry.
The trucking industry is set to continue to grow in 2022, with the ATA predicting a 24% increase in freight tonnage and a 66% increase in revenue. Meanwhile, demand for rail transport is expected to drop, but the overall intermodal market is projected to increase by 30 percent by 2022, compared to $11 billion in 2016. While the growth of the trucking industry is dependent on trucking, there are a number of new solutions that will help companies succeed in the coming years.
A growing shortage of drivers has led to increased interest in trucking among newcomers. The American Trucking Association estimates a shortage of 80,000 drivers in the United States, and the shortage is expected to persist. This will force trucking companies to target new demographics to find drivers in 2022, particularly young people. Women currently make up just 7% of the industry, and trucking companies are increasingly looking for creative ways to recruit young drivers.
How Long Will Truck Drivers Be Needed?
The trucking industry is one of the largest occupations in the world, but it faces several challenges that could cause it to decline. Some of the major obstacles include the changing workforce demographics and supply chain bottlenecks. In addition, automation is a major threat to this sector.
The trucking industry is suffering from a shortage of more than 80,000 drivers. According to the American Trucking Association, around 72 percent of the freight in the United States is transported by truck. As such, truck drivers are essential to the supply chain. The lack of drivers is causing supply chain disruptions that are making it increasingly difficult for companies to meet customer demands.
Companies must take steps to solve this problem. First, they must stop taking advantage of truck drivers and offer competitive wages and health insurance. They must also offer pension plans and other incentives to attract new drivers. Additionally, truck drivers must feel that the pay is worth the sacrifices they make. Another way to attract drivers is to improve training programs and apprentice programs.
Will Semi Truck Prices Go Down in 2022?
Many in the trucking industry predict that prices for Class 8 trucks will continue to rise. Whether that’s true or not, we’ll see the results in the first half of 2022. A shortage of semi-trucks could disrupt an already strained supply chain. In addition, component costs are extremely high right now.
The trucking industry has experienced a recent boom in the past several years. Truck prices have skyrocketed due to increased freight rates and the demand for medium-duty trucks. The price of a used truck can easily top six figures. In fact, a carrier’s return on investment on a used truck in early 2020 could have outperformed the Dow Jones Industrial Average. However, the market will continue to remain subdued for the next four months.
Although the current boom in truck prices has many upsides, there are also downsides. According to a recent report from J.D. Power, Class 8 truck prices increased 86% in August. Additionally, inflation and a slowing economy will make used trucks more valuable, a trend that will continue into 2022.
Is Being a Truck Driver Worth It?
The career of a truck driver is not for the faint of heart. It requires extensive scrutiny, including drug tests and physicals, employment verification, and background checks. Yet, it is also highly rewarding. Professional drivers often enjoy the sense of fellowship that comes from common experiences and overcoming big challenges.
On the downside, truck driving can be a demanding and repetitive job. Long haul drivers face many challenges, including changing climates and weather conditions. For some, it can be difficult to adjust to the rapid changes in environment. Furthermore, the constant change in weather can trigger allergies. In addition, it’s not uncommon to see new places and face unfamiliar faces.
The job offers a high annual salary and numerous benefits. In addition to medical insurance and dental insurance, truck drivers often get paid holidays and paid time off. Some trucking agencies also provide their drivers with 401k and profit-sharing opportunities.
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