Trucking Outlook for 2019
The number of new jobs open in the United States continues to grow. The U.S. Department of Labor recently announced that, at the end of the 2018, the number was at a record high of 7.3 million. The metals and manufacturing sectors are having to adjust in order to attract – and keep – new workers, but the worker shortage affects our industry in other ways, too.
In its transportation industry outlook for 2019, Ruan looks at how the driver shortage will impact pay – and consumer and business prices. Noting that wages have been increasing for several years and that, in 2017, wages and benefits topped carriers’ cost-per-mile spending for the third consecutive year, Ruan explains: “As the driver shortage intensifies, carriers are more frequently increasing pay or providing sign-on bonuses to attract new drivers, as well as offering performance-based bonuses to retain existing drivers.”
How much will wages rise this year? Click here to read Ruan’s full report, which is available to MSCI members. The report also explores the impact new regulations and future economic growth will have on the trucking sector.