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Impact of Commercial Truck Drivers Shortage

It’s no secret that there is a shortage of qualified truck drivers in the United States. Truck drivers are retiring, drivers are choosing local driving positions over being on the road for long periods of time, and stricter regulations are taking many truck drivers out of the running for jobs.

Economic Impact

With fewer drivers to move loads from manufacturers to stores, businesses are having to wait longer for the shipments they need. This causes frustration for the stores, the manufacturers and the customers. This frustration is expected to increase as we enter the holiday shopping season.

Another issue is that trucking companies are having to raise the rates they charge for hauling goods. The increase in shipping costs is passed on to the customers who purchase the goods. According to a report by DAT Solutions, a company that analyzes and provides data to the transportation industry, the rate per mile that companies charge to haul freight has increased about eight percent from August 2014 to August 2015. It is now at about $1.80 per mile for long-term contracts between manufacturers and shippers.

Some trucking companies are going out of business because they cannot afford to pay the drivers as much as it takes to keep them from leaving for better opportunities. Changes in the hours-of-service regulations have meant that trucking companies must hire more drivers to move the same amount of freight. Smaller companies who are unable to increase freight prices often have trouble keeping up with the costs of driver pay and benefits, forcing them to close their doors altogether.

What Trucking Companies are Doing

Although there are some causes of the truck driver shortage that are out of the hands of companies, most companies are taking steps to keep the drivers they have and attract new ones.

Pay increases are at the top of the list. Drivers know that the shortage of qualified drivers on the road makes them more valuable. They are also likely to switch companies when they see that they can get thousands of dollars in the form of a sign-on bonus.

Truck drivers are also looking for more time at home, and companies are generally obliging. More companies are offering drivers the ability to be at home several times each month. Some companies are even offering their drivers home time every week.

Partially due to the shortage of qualified drivers, the American Trucking Association is actively facilitating military veterans who are interested in becoming truck drivers in meeting their goals. In fact, the ATA committed to hiring at least 100,000 veterans between the end of 2014 and the end of 2016.

There are so many factors that affect the driver shortage in the United States that there are no easy solutions. It’s likely that drivers will keep retiring, with fewer qualified applicants to take their places. This likely means that the prices of goods will go up to compensate for the necessary increases in driver pay and benefits. The good news is that high pay is likely to attract more people who may not have previously considered truck driving as a career option, and the shortage will likely be reduced in time.

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