The commercial truck industry has seen steady growth for the past few years, but the industry appears to be entering a new wave of increased shipping due to the upcoming holiday shopping season and the growth that is expected to come in 2015.
Economic gains in the second and third quarters of 2014 have helped drive growth in the commercial truck industry and could continue to drive up demand for more CDL trained truck drivers.
“The U.S. Commerce Department reported the third quarter gain in October, which followed a period of growth in the second quarter of the year,” the Associated Press reported in October. “The third quarter result, which was slightly better than economists expected, followed a 4.6 percent rebound in the second quarter.”
The Commerce Department also reported that it believes the economy is maintaining momentum in the current quarter, with a big fall in gas prices expected to bolster consumer spending.
The economic growth of 2014 is also expected to move right into 2015.
“Many economists think full-year growth for 2015 will hit 3 percent, giving the economy the best annual performance since 2005, two years before the Great Recession began, “ the AP added. “For the third quarter, consumer spending grew at a solid 1.8 percent annual rate.”
Economic growth is great news for the commercial truck industry, which ships the majority of goods across America. However, the fact that recent economic growth is connected to increases in consumer spending is even greater news for the trucking sector.
“Consumer spending contributed 1.2 percentage points to growth in the third quarter,” the AP added. “Another major contribution came from an 11 percent rise in export sales, far outpacing imports, which fell at a 1.7 rate. The smaller trade gap added 1.3 percentage points to growth in the third quarter.”
Holiday sales are expected to be higher this year than in recent holiday shopping seasons, which is good news for commercial trucks that are called upon to deliver goods to store selves.
But more good news for trucks is that the holiday shopping season started earlier for many retailers, which increases the growth period for an industry that has already been experiencing steady growth for the past few years.
“Although retail executives have been worried that the uncertain economy and unsettling news like the arrival of Ebola in America would dampen holiday spending, the last several days have brought some upbeat data,” the New York Times reported back in October. “For instance, according to a Nielsen survey released [during the last week of October], consumers, led by African-American and Hispanic households, said they plan to spend more than five years ago for gifts in important categories like technology, toys and apparel.”
That’s great news for commercial trucks and the CDL-trained drivers across the industry.
“There are some very positive developments,” said Tom Lamb, chief marketing officer of Lowe’s in Mooresville, N.C., and “consumers continue to express a high degree of interest in their home and all things home.”
America’s growing economy is leading to a growing demand for more trucks to ship more cargo. That also means more drivers are needed to drive those new trucks, especially those drivers with CDL training from a respected program like Hamrick School.
If you have thought about launching a new truck driver career then now would be a great time to start a CDL training program as commercial trucks continue to increase the amount of freight they ship across the country.
The shortage of CDL-trained truck drivers is a challenge for today’s truck carriers, but it means opportunity for those jobseekers who have completed a respected training program like the one at Hamrick School. If you are looking for a new career in a growing industry then the commercial truck industry could be a good place to look as there is a huge need for thousands of new drivers, especially those with professional CDL training.