Loadsmart Resource Center

Companies Raising Wages as Driver Shortage Worsens

The driver shortage has gotten worse with the shortage averaging out to over 214,000 truck drivers. With long haul making up 38% of the $840 billion of the U.S Frieght Market, drivers are crucial. The turnover rate of a truck driver is high for multiple reasons but a fundamental issue is the pay. With trucking companies like Xpress turning down 5,000 to 8,000 orders a week from lack of truck drivers, they finally figured out supply and demand and have raised their driver wages. A truck driver of theirs, who had worked for 17 years is finally getting a raise, planning to make over $60,000 when he would have prior to the raise made $48,000-$55,000. Xpress is not the only trucking company raising driver wages, others include Con-way (who had said they’d be the only ones to raise their wages *cough cough wrong), Celadon group and more. America’s Commercial Transportation Research Co expects a 6% increase in average driver wages this year. For more info go to IBJ>>

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