The American Trucking Associations (ATA) reported that in 2018, there was a record high shortage of over 60,000 truck drivers. The reasons range from a growing economy and increasing demand to aging drivers retiring from their positions. To entice a younger generation to become truckers, companies are offering incentives that can benefit you throughout your new career.
What’s the Cause of the Truck Driver Shortage?
One of the primary factors causing the truck driver shortage is their aging workforce. The current generation of truckers is retiring faster, partially because of the new technologies being introduced into the vehicles. They make the trucks safer and more energy-efficient, according to fleetowner.com.
However, the aging truckers aren’t as accustomed to technology as younger people are, making them retire earlier. As a result, there are more drivers retiring than there are to replace them.
Improving Economic Conditions
The economy is improving, with The Balance reporting a gross domestic product (GDP) growth of 2.9%. More businesses are increasing their production, which also means an increased need for distribution.
Trucking is experiencing a boom period, but it doesn’t have the drivers to meet the high demand.
How Does It Benefit Potential Truck Drivers?
With high demand and fewer drivers, job security for truckers is also high. The ATA reports that over the next 10 years, trucking companies will need to hire approximately 898,000 new truckers. To fill this growing need, potential truck drivers are being offered incentives to join the industry.
Among the incentives you can receive is a signing bonus. Depending on the company, a solo driver could receive $15,000 upfront, while team drivers can be offered 50,000, according to simplemost.com.
The higher demand has increased revenue, allowing companies to also offer more money and better benefits to their drivers. The ATA reports that between 2017 and 2018, driver wages increased by 10%.
On average, a truck driver will have an average salary of $59,431, according to indeed.com. The
pay increases with the more endorsements drivers obtain during their career.
Potential truck drivers take their first steps toward their new careers with our accredited CDL program. For our 2020 schedule of day and night classes, reach out to us at (330) 239-2229.
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