3 Weeks Can Change Your Life

Driver Shortage: Countdown to Crunch Time? or Earnings Opportunity?

Posted on October 29th, by Ted Hogan in Trucking News. Comments Off

Driver Shortage: Countdown to Crunch Time? or Earnings Opportunity?

According to a recent series of articles published by Overdrive – Owner Operators Trucking Magazine, there are growing signals in the trucking industry that the demand for truck drivers will rise dramatically faster than the supply of qualified drivers over the next 10 years.

A driver shortage could result in excellent job opportunities and better pay for drivers with the right training.
Overdrive Where pays up 63 percent in a decade Driver Shortage: Countdown to Crunch Time? or Earnings Opportunity? photo

Image credits Overdrive magazine

Help-wanted ads in local newspapers are dominated by the 800- numbers of trucking companies looking for CDL holders. On the Internet, anyone who visits a few trucking-related pages soon will find banner ads by driver-desperate carriers appearing next to a favorite cat video. The quarterly earnings reports of publicly traded trucking companies caution investors about the high cost and potential dangers of the growing driver shortage.

The factors that could lead to a more severe driver shortage – and a resulting pay hike – are simple enough:

  • A large number of long-time drivers are approaching retirement age.
  • New regulations – notably the Compliance, Safety, Accountability (CSA) program – have pushed many drivers out of the industry.
  • Productivity losses due to the new hours of service regulations mean more drivers are required to deliver the same amount of freight.
  • Many fleets have been cautious about rebuilding their capacity since the recession, due to the sporadic recovery, and would be hard-pressed to quickly add trucks and drivers should demand spike.

via Driver shortage: Countdown to a capacity crunch, and a boost in rates?
Overdrive – Owner Operators Trucking Magazine

Overdrive Factors Fueling Driver Demand 300x261 Driver Shortage: Countdown to Crunch Time? or Earnings Opportunity? photo

Image credits – Overdrive magazine

FUELING DRIVER DEMAND | These key factors are creating a demand for nearly 100,000 new drivers each year over the coming decade as experienced drivers reach retirement age and trucking continues to grow, says the American Trucking Associations.

via Driver shortage: Many are called, fewer are chosen
Overdrive – Owner Operators Trucking Magazine

According to a story published on TruckingInfo.com, Chief Economist Bob Costello of the American Trucking Associations (ATA) recently told an audience that fleets are adjusting to continued tightness in the driver market by increasing pay and hiring newer drivers.

“Fleets in all segments of trucking have told us they are having a more difficult time finding qualified drivers than they were a year ago,” Costello said. “As a result, more fleets are considering hiring drivers straight out of driver training programs and nearly three-quarters of those we surveyed plan to increase pay or have already done so.”

The industry needs to find an average of roughly 96,000 new drivers annually to keep pace with demand. If freight demand grows as it is projected to, the driver shortage could balloon to nearly 240,000 drivers by 2022, according to ATA data.

via ATA: Trucking Short of Nearly 100,000 Drivers Annually – News
TruckingInfo.com — the website of Heavy Duty Trucking Magazine

Are You Interested in Truck Driver Institute’s CDL Training Programs?

find out more Driver Shortage: Countdown to Crunch Time? or Earnings Opportunity? photo

Comments are closed.

Listen to our students

See what our CDL Training students and graduates say about their experience at Truck Driver Institute in their own words.

Click on each headline for more ....

Greg tells us, “I have nothing but good things to say about TDI and the staff.”
“At Truck Driver Institute the instructors worked so well with the students.”

I drove years ago and this was not just a refresher, it covered...

Joshua says, “TDI is the place to go if you want your CDL”.

“Truck Driver Institute was a great place to go to school for my CDL. The trainers were great, they answered all my questions and...

Dallas graduate Melissa Fiscus says, “The moment I walked into TDI I felt at ease.”

I would advise anyone who is trying to obtain their CDL License to attend TDI. I had attended a school in the same area...