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Truck driver shortage 'is about as bad as I've ever seen': US Xpress CEO
Yahoo Finance
Truck driver shortage ‘is about as bad as I’ve ever seen’: US Xpress CEO
Brian Cheung · Reporter
Tue, August 10, 2021, 4:26 PM
The need for workers is weighing on the trucking industry, where freight operators are struggling to raise wages fast enough to find drivers.
Eric Fuller, the CEO of U.S. Xpress (USX), said that his company has doled out 30% to 35% in total pay increases over the last 12 months — but suggested more may be needed. ... “The driver situation is about as bad as I’ve ever seen in my career,” Fuller told Yahoo Finance on Monday.
Data from the Bureau of Labor Statistics showed that in the depths of the COVID-19 pandemic, the truck transportation industry lost 6% of its pre-pandemic labor force of 1.52 million workers. As of July, the industry had recovered about 63,000 of those lost jobs but still remains about 33,000 jobs short of employment levels in February 2020.
{snip}
Drivers have shown a stronger preference for jobs that allow them to spend more time with their families, meaning that jobs in manufacturing or construction may poach talent from U.S. Xpress and other trucking companies.
{snip}
Truck driver shortage ‘is about as bad as I’ve ever seen’: US Xpress CEO
Brian Cheung · Reporter
Tue, August 10, 2021, 4:26 PM
The need for workers is weighing on the trucking industry, where freight operators are struggling to raise wages fast enough to find drivers.
Eric Fuller, the CEO of U.S. Xpress (USX), said that his company has doled out 30% to 35% in total pay increases over the last 12 months — but suggested more may be needed. ... “The driver situation is about as bad as I’ve ever seen in my career,” Fuller told Yahoo Finance on Monday.
Data from the Bureau of Labor Statistics showed that in the depths of the COVID-19 pandemic, the truck transportation industry lost 6% of its pre-pandemic labor force of 1.52 million workers. As of July, the industry had recovered about 63,000 of those lost jobs but still remains about 33,000 jobs short of employment levels in February 2020.
{snip}
Drivers have shown a stronger preference for jobs that allow them to spend more time with their families, meaning that jobs in manufacturing or construction may poach talent from U.S. Xpress and other trucking companies.
{snip}
4 replies
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