TopMark Funding-Logo
Search
  • DealerLinc
  • Dealers
  • Truck Financing
    • Semi Truck Financing
      • Fleet Financing
      • Semi Truck Lease
      • Semi Truck Loan
      • New Semi Trucks
      • Used Semi Trucks
      • Tractor Trailers
      • Owner Operator
      • Sleeper Cab Financing
      • Day Cab Financing
      • Apply Now
    • Trailer Financing
      • Reefer Trailer Financing
      • Dry Van Trailer Financing
      • Flatbed Trailer Financing
      • Dump Trailer Financing
      • Lowboy Trailer Financing
      • Tanker Trailer Financing
      • Drop Deck Trailer Financing
      • RGN Trailer Financing
      • Heavy Haul Trailer Financing
      • Apply Now
    • Commercial Truck Financing
      • Dump Truck Financing
      • Box Truck Financing
      • Straight Truck Financing
      • Utility Truck Financing
      • Work Truck Financing
      • Bucket Truck Financing
      • Garbage Truck Financing
      • Grapple Truck Financing
      • Commercial Fleet Financing
      • Apply Now
    • Commercial Vehicle Financing
      • Amazon Delivery Van Financing
      • Cargo Van Financing
      • Moving Van Financing
      • Sprinter Van Financing
      • Emergency Vehicle Financing
      • Ambulance Financing
      • Taxi Cab Financing
      • Apply Now
    • Transport Vehicle Financing
      • Bus Financing
      • Motor Coach Financing
      • Tour Bus Financing
      • Shuttle Bus Financing
      • Limousine Financing
      • Limo Bus Financing
      • Passenger Van Financing
      • Apply Now
  • Heavy Equipment Financing
    • Dump Truck Financing
    • Excavators Financing
    • Loaders Financing
    • Backhoes Financing
    • Bulldozer Financing
    • Wheel Tractor Scraper Financing
    • Dragline Excavator Financing
    • Paving Machine Financing
    • Graders Financing
    • Trenchers Financing
    • Compactor Financing
    • Telehandler Financing
    • Tower Crane Financing
    • Feller Buncher Financing
    • Pile Driving Equipment
    • Concrete Pump Financing
    • Cement Truck Financing
    • Construction Vehicle Financing
  • Equipment Financing
    • Medical Equipment Financing
    • Business Equipment Financing
    • Computer Hardware Financing
    • IT Equipment Financing
    • Software Financing
    • Apply Now
  • Business Loans
    • Small Business Loans
    • Working Capital
    • Merchant Cash Advance
    • Apply Now
  • About Us
    • DealerLinc
    • Dealers Partners
    • About Us
    • In The News
    • Our Reviews
    • Contact Us
    • Referrals
    • FAQ
    • Careers
    • Blog
  • Blog
    • Semi Trucks
    • Guides
    • Business
    • Finance
  • Get a Quote
  • (866) 627-6644
TopMark Funding BBB Business Review
Trustpilot
Some Say the Truck Driver Shortage Doesn’t Exist
April 24 2019

Some Say the Truck Driver Shortage Doesn’t Exist

TopMark Funding News 0

If there are 1.8 million drivers insisting there’s a truck driver shortage, it would be easily taken as fact.

But what about the truck drivers looking at their huge force and saying, what shortage?

 

But if you’ve been listening to the news, everyone else is saying that the truck driver shortage in America is extensive. Warning bells have been going off in the industry for years. The American Trucking Association says that America is short 50,000 truck drivers and by 2026, 898,000 new truck drivers will need to be recruited.

 

So what gives?

Is the Truck Driver Shortage Real?

Statistics are tricky. While the American Trucking Association reports a huge need for truck drivers, the Bureau of Labor Statistics says that the truck-driver shortage is often blown out of proportion.

truck driver shortage

 

“As a whole, the market for truck drivers appears to work as well as any other blue-collar labor market, and while it tends to be ‘tight,’ it imposes no constraints on entry into (or exit from) the occupation,” says BLS. “There is thus no reason to think that, given sufficient time, driver supply should fail to respond to price signals in the standard way.”

 

That likely comes as good news to truck drivers, fleet owners, businesses, and everyone that consumes goods anywhere. Such a shortage would mean a huge bump in prices across industries and delivery slowdowns.

 

Still, the turnover rate for the employees in the trucking industry has never been higher. Economists, though, would look at that turnover and not necessarily think it spells doom and gloom. High turnover rates don’t mean there will always be a shortage. It just might mean that there will be high turnover rates. In other words, economists are not lead to the same conclusions as others speculating about the industry.

 

They would not “call these conditions a ‘broken market,’ except to the extent that one might use that term for a secondary labor market segment since the high turnover that marks such a segment is an indicator that the jobs in it are unattractive to many potential employees.” This was expressed in a report published in BLS’s Month Labor Review.

 

Shortage Benefits

Truck drivers that are actually working in the industry are taking home higher wages because of the “shortage” whether it’s only perceived or actually true. Some have even reported taking home bonuses of up to $20,000 dollars as an incentive to stay.

At the bottom of the issue, the BLS says that there isn’t actually a truck driver shortage. There is a shortage of people who want to work 70 hours a week for $42,000. Perhaps what needs to change is the structure of the job itself.

You can always count on TopMark Funding to give you the loan you need. There’s no need to worry about miscommunication, statistics, or fact-checking. We’ll give it to you straight up, and we’ll help you get that loan you need. We’re ready to help you, and we’re ready right now.

Post Views: 84
ELD Laws and Personal Conveyance Time Why a Small Business Get Rejected for a Loan

Related Posts

February_2021_Rates_and_Trend_Lines_Rise

Business, Commercial Trucking, Freight Rates, News

February 2021: Rates and Trend Lines Rise

January_2021_Trailer_Sales_Follow_Truck_Sales_Footsteps

Business, Commercial Trucking, News

January 2021: Trailer Sales Follow Truck Sales’ Footsteps

Department_of_Labor_Changes_Direction_on_Sleeper_Berth_Pay

Business, Commercial Trucking, News, Regulations, Semi Trucks

Department of Labor Changes Direction on Sleeper Berth Pay

Search

Blue Semi Truck

Follow Us

Subscribe

* indicates required

Recent Posts

  • February 2021: Rates and Trend Lines Rise
  • January 2021: Trailer Sales Follow Truck Sales’ Footsteps
  • Department of Labor Changes Direction on Sleeper Berth Pay
  • Biden Reverses Trump’s Executive Order 13801
  • FMCSA Declares Regional Emergency For Cold Snap

Categories

  • ATA (1)
  • DealerLinc (1)
  • Press Releases (2)
  • Load Boards (3)
  • Tesla (4)
  • California (5)
  • Congress (5)
  • Nikola (5)
  • Fleet Management (6)
  • BLS (6)
  • Construction (8)
  • ACT (8)
  • Dealers (9)
  • CVSA (9)
  • President (10)
  • Financial news (11)
  • Entertainment (11)
  • Dump Trucks (11)
  • Freight Rates (11)
  • FTR (13)
  • How To (15)
  • Truck Financing (19)
  • Best Trucker (21)
  • Trucking Companies (27)
  • Opinion (37)
  • Finance (47)
  • Technology (50)
  • FMCSA (67)
  • Coronavirus (75)
  • Guides (91)
  • Regulations (107)
  • Business (145)
  • Semi Trucks (169)
  • Commercial Trucking (184)
  • News (187)

Archives

  • March 2021 (1)
  • February 2021 (11)
  • January 2021 (13)
  • December 2020 (16)
  • November 2020 (21)
  • October 2020 (20)
  • September 2020 (19)
  • August 2020 (20)
  • July 2020 (23)
  • June 2020 (22)
  • May 2020 (22)
  • April 2020 (15)
  • March 2020 (28)
  • February 2020 (25)
  • January 2020 (30)
  • December 2019 (20)
  • November 2019 (17)
  • October 2019 (7)
  • September 2019 (7)
  • August 2019 (15)
  • July 2019 (2)
  • June 2019 (5)
  • May 2019 (2)
  • April 2019 (8)
  • March 2019 (6)
  • February 2019 (2)
  • January 2019 (1)
  • December 2018 (3)
  • November 2018 (3)
  • October 2018 (3)
  • September 2018 (3)
  • August 2018 (1)
  • July 2018 (1)
  • June 2018 (1)
  • August 2017 (1)
  • April 2017 (1)
Trailer Financing - 300x600 Banner

Financing Programs

  • Dealers Financing
  • Semi Truck Leasing
  • Semi Truck Financing
  • Dump Truck Lease
  • Box Truck Leasing
  • Fleet Financing
  • Working Capital

Company Info

  • About Us
  • Reviews
  • Blog
  • Careers
  • FAQ
  • Referrals
  • Privacy Policy

Recent Articles

  • February 2021: Rates and Trend Lines Rise
  • January 2021: Trailer Sales Follow Truck Sales’ Footsteps
  • Department of Labor Changes Direction on Sleeper Berth Pay
  • Biden Reverses Trump’s Executive Order 13801
  • FMCSA Declares Regional Emergency For Cold Snap

Headquarters

516 Gibson Drive, Suite 160

Roseville, CA 95678

(866) 627-6644

TopMark Funding BBB Business Review