Economy could be affected by driver shortage

Welcome to this three-part discussion on what ails the trucking transport industry and what can be done about it in terms of the economy.

Those involved with trucking have long recognized the growing driver shortage. Routinely blamed for the looming crisis are driver wages that haven’t kept pace with industry growth, coupled with frustration with “regulations that make it harder to work (etc.).”

However, some new factors in the economy are also beginning to have an effect. For example, an unusually low unemployment rate, meaning the pool of new drivers, is particularly shallow. What’s emerged as a result is a round robin of recruitment among fleets: sign on bonuses plus newer rigs serve as enticements away from other employers. (Whether such measures actually work is another matter.)

So, what’s the takeaway? There’s a risk that whatever converging factors depress freight transport could ultimately depress the economy, as well. For more details about the economy and its effect on the driver shortage, click here.