The trucking industry’s driver shortage is not going away. In fact, recent projections from the American Trucking Association (ATA) indicate that the shortage is expected to double over the next decade. This has been an ongoing issue and trucking companies are looking for ways to recruit drivers —as we have discussed many times before. Trucking companies have expanded their recruiting efforts and have begun to target a segment of the population that has since been ignored in this industry— WOMEN.1 Women have been fighting to be equal to men in every industry, why not the trucking industry too?!
The ATA recently released its “American Trucking Trends 2019” report, reflecting 2018 trucking industry numbers. Here are the key takeaways:
*Last year proved to be a strong year for trucking with revenue increasing 12.2% year-over-year to $796.7 billion (nearly $100 billion more over 2017) and accounting for 80.3% of freight spending in the country! (1)
The trucking industry’s driver shortage is not going away and it will be a huge topic of discussion for a long time; unless changes are made that is. This shortage goes back to 2005 when it was just around 20,000. In 2008, the United States went through a recession where fewer drivers were needed due to the fall in industry volumes. Once the economy started to recovery and increase, so did the driver shortage; they go hand in hand. The shortage skyrocketed to 50,700 in 2017 due to the increase in industry volumes. Since then the trucking industry has continued to struggle with driver shortage. By the end of 2019, there should be a slight decrease in the driver shortfall but not significant enough to fix the issue. If these current trends hold, the shortage can increase to over 160,000 by 2028 if no changes are made.
Summer time is generally seen as a happier time of the year. It means the sun is shining, trips to the beach and lots of outdoor activities. Children are off from school and families are together. It’s viewed as a time with less stress and more fun. Unless you need to ship a product that is temperature sensitive.
Nearly 70 percent of the freight shipped throughout the United States travels by truck at some point in its journey. Understanding how the trucking industry is performing and where it is forecast to go can make a big difference for trucking companies and those who use them for their shipping needs. Planning is vital for the industry's continued success and it is also valuable to be able to anticipate changes and challenges so strategies to address and combat them can be developed. In order to better understand the trucking industry forecast and expectations for 2018, information and opinions from experts have been consolidated here. That provides a breakdown of what to expect in the coming months and throughout the next year.
The December 18th compliance date draws near for carriers to implement electronic logging devices on their fleet, affecting an estimated 500,000 carriers and over 3.5 million drivers. Electronic logging devices, ELDs for short, would replace paper logs