A recent report from the American Trucking Association (ATA) notes that the trucking industry is suffering from a significant lack of drivers. Unless something is done to reverse this trend, there are expectations for substantial supply chain disruptions creating shipping delays, higher inventory carrying costs and potential shortages at stores. The Truck Driver Shortage Analysis 2019 report highlights the significance of the driver shortage for the supply chain, as more than 71 percent of all freight tonnage is transported by truck.
The trucking industry was short nearly 61,000 drivers in 2018; a 20 percent increase from the year prior. ATA estimates that the shortage could rise to more than 160,000 by 2028. To meet U.S. demand for shipping needs, the trucking industry will need to hire more than a million new drivers, or an average of close to 110,000 per year, to replace retiring drivers and stay on track with the growth in the economy.
Listen to the report below.