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 increasing maturity and stability of trucking technology start-ups is evidenced by a decline in the volume of early-stage deals in 2018.
New truck registrations across the European Union grew by 3.5% last year compared to 2017.
Private fleets report a DOT Recordable crash rate of 0.504 crashes per million miles, a slight increase from last year’s 0.49.
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