The article concluded three facts which are happening in the trucking industry:
- Truck drivers are still in short supply even though wages, on average, are rising.
- According to UBS economists, there's a lag between higher pay and employment growth in the industry.
- The shortage could increase transport costs even more — bad news for many retailers that depend on the trucking industry.
"We expect labor shortages to persist in trucking for at least the next two years, as the economy remains strong, and as even in the best case scenario, truck driver employment tends to lag rising wages," Seth Carpenter, the chief US economist at UBS.
Trucking is relatively an unattractive job since it requires to work longer than most day jobs and drivers even have to work during the night. It requires a special commercial driver's license, and in many cases, passing a drug test. And even with wage growth, truck drivers are still earning less than people in comparable industries like construction and mining.
Overall, because of the high requirements, low wages, long working hours, people are less likely to apply trucking drivers. This would cause the rise in transportation cost and those retailers would suffer the most because they need road transport for deliveries to brick and mortar stores and to customers that order online.
http://www.businessinsider.com/truck-driver-shortage-persists-amid-salary-rise-2018-2
http://www.businessinsider.com/truck-driver-shortage-persists-amid-salary-rise-2018-2
3 comments:
I agree that requirements are high to become a commercial driver. Since the minimum age to get a CDL is 21 years, many people find another career after high school. This job is also challenging because apart from driving long hours on the road, truck drivers only get to go home a couple times a month- there's a lot of instability and the wages, although higher than average, don't make up for it. Truck driving is also a male dominated career so maybe efforts should be made to hire women into this industry.
Given that trucking is not the most desirable job. The hours are longer than most working day work opportunities, and are generally not even in the course of the day. It calls for a distinctive industrial driver’s license, and in lots of conditions, passing a drug examination. I think it is very interesting that even with wage expansion, truck motorists are however still earning less than people who work in comparable industries like building and mining
^i'm sorry but did you just repeat the same thing from the blog i'm laughing
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