Although labor issues remain a significant challenge for respondents to the National Private Truck Council's annual survey, they continue to report retention and turnover performance far better than their for-hire colleagues. This year, private fleets reported turnover at 16.9%, up a point and a half over last year’s 15.4% average turnover.
The stability of trucking employment over the past 14 years provides some evidence of a tight labor market for truck drivers—the demand for drivers has remained strong while the demand for workers with low levels of education has declined substantially in other sectors.
While it appears that truck drivers are at an earnings disadvantage relative to nondriving blue-collar workers, this disadvantage is only evidence of an earnings gap between light or delivery truck drivers and driver/sales workers, on the one hand, and blue-collar workers, on the other; point estimates of the earnings of heavy truck drivers exceed those of other blue-collar workers throughout the period.
By TruckingInfo
As of May 1, 2021, all truck classes from pickups through heavy-duty class 8 units experienced an increase in wholesale values over the prior month
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As of April 1, 2021, pickup trucks and Class 4-6 medium-duty units experienced an increase in wholesale values over the prior month, but heavy-duty Class 7-8 trucks experienced a small dip.
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Although labor issues remain a significant challenge for respondents in the National Private Truck Council's annual survey, they continued to report retention and turnover performance far better than their for-hire colleagues.
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Heavy-duty truck driver and tractor-trailer driver wages and employment rates vary greatly by state.
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As of March. 1, 2021, all truck classes experienced decreases in wholesale values over the past month.
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Looking at the average price of the benchmark sleeper tractor sold through the two largest nationwide no-reserve auction companies, Class 8 auction volume increased in June.
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While both tractor and trailer sales saw a surge in October of 2019, those numbers quickly started dropping, with a COVID-19-related low in April 2020 of 1,680 tractors and 209 trailers.
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As of Feb. 1, 2021, all truck classes experienced decreases in wholesale values over the past month.
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EPA SmartWay data from 2018 shows Class 7, 8A, and 8B mileage-weighted miles per gallon data for each truck category for SmartWay program participants.
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The number of models of zero-emission trucks, buses, and off-road equipment available globally is expected to double between the end of 2019 and 2023.
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As of Jan. 1, 2020, all truck classes experienced decreases in wholesale values over the past month.
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Spot rates were all about the old adage “what goes up must come down.” After strong growth in 2017 and 2018, rates in 2019 were sharply negative through mid-year before firming.
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