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.
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.
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.
The pandemic could drive more fleets to consider emergency planning and has increased vehicle operating expenses for many fleets.
How has COVID-19 impacting truck fleets related to their business and overall number of loads? How might it have actually improved things?
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