Driver shortage stunts US growth

Freight volumes are lifting in the US, but the American Trucking Association says a lack of drivers will restrain future growth

The American Truck Association has warned that a nationwide shortage of truck drivers will restrict the growth of the road freight industry and economic growth in general.

At a recent panel discussion at the annual ATA Management Conference & Exhibition in San Diego, ATA Economist Bob Costello said the US road freight industry was scrambling to source drivers to meet its needs.

"Freight volumes are growing nicely on a year-over-year basis for most trucking sectors as economic growth remains solid," he said.

"Industry revenue and average revenue per mile are increasing nicely as capacity remains constrained. However, the industry is having a difficult time adding trucks due to the driver shortage."

Costello warned the problem was "as bad as ever and is expected to get worse in the near term" as freight volumes rise.

Turnover rates rose by 11 percentage points to 103 per cent in the second quarter of 2014 and turnover at small truck fleets rose by 16 percentage points to 94 per cent – the highest figures for both measures since the third quarter of 2012.

"These turnover rates show that the shortage is acute and, if the freight economy continues to grow, it will worsen very quickly," said Costello.

Driver shortage stunts US growth

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