Is an Increase in Trucker Pay Coming Soon?
The American Trucking Associations made a prediction late last year about the direction trucking would be going in 2017. This year is expected to see the beginning of a slow increase in freight demand, brought about by a slow increase in overall economic activity.
Truck drivers will be in higher demand as these changes occur, but the driver shortage is still very much a problem. One factor that has caused drivers to seek other lines of work is lackluster pay. While some trucking positions pay well, the general consensus among many drivers has been that rough schedules and conditions overshadow the financial benefits many trucking jobs offer.
But this could be about to change. With demand for drivers expected to jump at a steady rate, it is only logical to assume that pay will follow the same pattern. At the Conversion Interactive Agency’s annual conference in Nashville, ATA Chief Economist Bob Costello noted many factors which could drive trucking demand up this year.
One of these factors is the consumption of goods by consumers. An increase in this trend stands out from the freight recession last year, and it points to an increase in trucking activity and thus driver pay. Carriers will need to invest in reliable talent to make sure they can meet their responsibilities as spending continues to pick up.
Costello also cited growth in the housing market as a sign of general economic improvement. While not all areas of the economy have been improving just yet, more freight is expected to be moved soon. This could mean that pay scales and overall levels of compensation could increase.