United ed S States es’ T Truc uck Dr Driver er M Market & S Short hortage September 5, 2019 Bob Costello Chief Economist & Senior Vice President of International Trade Policy American Trucking Associations bcostello@trucking.org @ATAEconBob
Truck ck Driver r Turn rnover r Rates b by Carri rier T r Type Truckload LTL 98% 96% 100% 95% 93% 89% 87% 81% 75% 50% 25% 11% 11% 11% 11% 9% 9% 9% 0% 2012 2013 2014 2015 2016 2017 2018 Source: ATA
The driver shortage is primarily an over-the-road for-hire truckload issue. So 10 Million CDL how many drivers are in that space? Holders 3.5 Million “Truck” Drivers 1.8 Million Heavy & Based on Tractor-Trailer Drivers government data, ATA estimates that there are 880,710 For-Hire Trucking Heavy & roughly 500,000 - Tractor-Trailer Drivers 600,000 OTR for- hire TL drivers.
https://www.trucking.org/article/ATA-Releases-Updated-Driver-Shortage-Report-and-Forecast
Source: ATA’s Truck Driver Shortage Analysis 2019
Causes of the Driver Shortage • Demographics • Age • Gender • Lifestyle • More job alternatives available • Regulations that reduce productivity
The Market R Reaction to An Any S Short rtage is Price Rises Annual Employee Driver Compensation 2017 Median Pay Including Incentives and Bonuses, but Not Benefits *Solo Drivers Only Tank Local $51.2 TL Nat'l Irregular Route Van $53.2 All Carriers $56.0 Van Dedicated $57.0 Flatbed $60.4 LTL Local P&D $63.3 LTL OTR $64.4 Tank Truck OTR $66.5 Refrigerated $68.6 Private $86.4 $40.0 $50.0 $60.0 $70.0 $80.0 $90.0 $100.0 Thousands of USD Source: American Trucking Associations’ Driver Compensation Study
WHAT CAN BE DONE? • Drivers between 18 and 21 years old • Shippers/receivers need to treat drivers better • Improve driver efficiency/driving time – Reduce driver waiting times to increase driver miles • 8,500/month to 9,000 = 5.9% • 8,500/month to 9,500 = 11.8% • More female drivers
Download ATA’s Report for Free at: http://trck.ng/drivershortage
Recommend
More recommend
