The U.S. economy can’t function unless goods get from point A to B.That’s why we have air carriers like FedEx, railroaders like CSX, and truckers like J.B. Hunt.
Truckers are a crucial component in this equation because a plane or train can’t exactly back into the loading dock of the local grocery store.
Unfortunately, America can’t seem to find enough people to fill the cabs of their 18-wheelers.
USA Today’s Paul Davidson reports:
A worsening shortage of truck drivers is pushing up freight rates and delaying some deliveries, defying the weak economy, high unemployment and falling gasoline prices.
Davidson identifies a few reasons why we can’t seem to higher enough truckers:
- training costs are high and typically lasts weeks
- minimum age is 21 years
- safety ratings are horrible, causing the screening process to be stringent
However, the shortage is causing pay in the industry to rise. According to a consultant in Davidson’s story, the average drivers’ annual salary has increased 5 per cent year-over-year to $50,000.
Hopefully, this will attract more candidates causing unemployment to decline, shipping rates to fall, goods to be delivered faster, and ultimately the economy to get just a little bit better.