The truck transportation industry has confirmed that they are experiencing a shortage of truck drivers that has affected the operations of many companies.
(OPENPRESS) The truck transportation industry has confirmed that they are experiencing a shortage of truck drivers that has affected the operations of many companies. There have been some positive developments in demographic trends affecting the growth of the truck driver workforce. Above 35 yrs male in the lobar force are willing to join The share of truck drivers in the rapidly growing Hispanic labor force has also risen.
•There will be decline of 3 million persons between 2004 and 2014. The white males of age 30-50 will decline from truck driving jobs.
•Apart from labor supply problem, decline in labor growth rate is another main problem faced by truck driving industry. The growth rate has declined from 1.4% to 0.5%
•In next ten years , Supply of new long-haul heavy-duty truck drivers will grow at an average annual rate of 1.6%. But truck driving job will increase in faster pace supply rate.
These separate projections of trend growth within the potential provide of and demand for long-haul heavy truck drivers imply a widening imbalance :
•The shortage of long-haul heavy-duty truck drivers equal to perhaps 1.5% of the over-the-road driver workforce or about 20,000 drivers.
•Due to absence of substantial market adjustments, there will be rise of 111,000 truck driving jobs in 2014
Closing this gap implies attracting a higher share of the labor force into the truck driving occupation. And the primary means by which more workers are drawn into long-distance trucking is higher wages.
•The share of truck drivers in the labor force increases sharply with age from the early 20s through the early 30s. In the late 20s and early 30s, the trucking industry gets the long-haul drivers it needs by attracting workers from other occupations where they have already reached their earnings potential.
•Due to recession ,wages of truck driving jobs have decreased considerably. This a major in the current truck driver shortage of truck drivers. Average weekly earnings in long distance trucking were 6-7% above average earnings in construction throughout the 1990s but fell to 9% below construction
earnings by 2001 and were still 1% lower in 2004.
•If the trucking industry attracts the higher share of workers that it needs to achieve the growth projected over the next 10 years, earnings in the industry must, at a minimum, return to the relative position that prevailed during the 1990s.
Lot of unemployed youngsters will get jobs if demand of truck drivers continues. There is no need of any degree for this job. Only qualification needed in this job is cdl license. Pay scale is also good for truck drivers. But increment for truck drivers depend on how much they travel and how assignment they took up a year. Good news for truck drivers industry is lot of people are willing to work as truck drivers. This is due to good pay scale and less qualification. This is best job for those who likes travelling.
The bottom line is truck driving jobs have increased, but there is shortage of labors for truck driving jobs.