Is trucking worth it in this economy?
Truck driving has always been a lucrative business, where negotiation was unavoidable, conflicts are common and bribing is very common.
The people that survive in trucking for a career time of driving are usually very tough skinned, to handle all the stresses of a job that is constantly pushing the economy around.
However when the economy gets tough, its the truckers that usually feel the hit the hardest and it usually reflects in their paycheck.
Majority of companies have insurance policies that require a few years of experience. This is a massive problem for new truckers as they have to work with less authority, until they get their experience and more often than not are in the mercy of the company that trains them up. Making it hard to make a decent living. Whilst still providing a minimal wage to survive.
Economy such as this in the Spring of 2023, is one of the worst crashes we have seen in a while. Freight prices dropping rapidly, which means that truckers aren’t making a lot.
Yet it still presents an opportunity for many drivers to find a safer option and focus on building experience instead of looking to make money.
This surely presents the perfect opportunity for new drivers to prepare for the bullish economy and be fully qualified to cash in, when the economy peaks.
NO shortage of jobs
When it comes to the job market, there is a large choice for drivers to pick between companies, as the turnover stays very high. Yet the demand is remaining the same as before. Due to the criticality of the trucking industry and the nature of supply chains.
All produce is moving around the world at all times. Having less money laying around means there are less products being shipped. However they are still moving around.
Even though drivers have a large choice between companies to work for. The carriers themselves offer different cultures, different benefits and very different pays. Truck drivers aren’t able to get all the good things from a company and when settling down they have to sacrifice benefits, pay or good culture. Which results in the horrible turnover for the drivers.
General Statistics
According to data from the United States Bureau of Labor Statistics (BLS), as of May 2020, there were approximately 1.9 million heavy and tractor-trailer truck drivers employed in the United States.
The BLS also projects that employment of heavy and tractor-trailer truck drivers is expected to grow 2 percent from 2019 to 2029, which is slower than the average for all occupations. This is due in part to improvements in technology that are increasing the efficiency of trucking operations and reducing the need for human drivers. However, demand for goods and the need to transport them will still create job opportunities for truck drivers.
The BLS also notes that job opportunities for truck drivers will vary by region and industry, with the greatest demand in the truck transportation and wholesale trade industries. Additionally, the BLS reports that the median annual wage for heavy and tractor-trailer truck drivers was $47,130 as of May 2020, with the highest earners in the industry making over $66,840 annually.
The plain future
Right now it seems like it can’t get any worse for the truckers, but it seems like the safety legislation only restricts truck drivers and keeps taking away more and more freedoms from the “highway cowboys”.
Though it seems bad, it always gets better. With 2024 elections, being just around the corner, we can expect the government to start pumping money into the economy just before the election to make voters happy.
Truck drivers can expect to see some nice checks for the several months before the election. Being ready for the next year should be a priority for drivers, that will stay around for a few more years in the industry.
Because when you’ll find out about it in the news, it’s already going to be too late.
You can apply by clicking here.
FAQ
- What kind of license do I need to become a truck driver?
To drive a commercial truck, you need a Commercial Driver’s License (CDL). The specific type of CDL you need will depend on the weight and type of vehicle you plan to drive. The Federal Motor Carrier Safety Administration (FMCSA) has specific requirements for CDLs and offers resources to help you obtain one.
- How much does a truck driver make?
The salary for a truck driver can vary based on factors such as experience, location, and the type of trucking job. According to the Bureau of Labor Statistics, as of May 2020, the median annual wage for heavy and tractor-trailer truck drivers was $47,130.
- What kind of training do I need to become a truck driver?
In addition to obtaining a CDL, you will also need to complete a training program to learn the skills necessary to drive a commercial truck. Some trucking companies offer their own training programs, while others require you to attend a separate truck driving school.
- What kind of equipment will I be driving?
The type of equipment you will drive can vary depending on the type of trucking job you have. For example, you might drive a tractor-trailer, a straight truck, or a tanker truck. Your employer will provide you with the necessary equipment and training to operate it safely.
- How many hours can I drive per day?
The FMCSA has specific rules around how many hours a truck driver can drive in a given day. The maximum driving time is 11 hours per day, with a total of 14 hours of on-duty time allowed. After driving for 11 hours, drivers must take a break of at least 10 consecutive hours.
- What is the job outlook for truck drivers?
According to the BLS, the job outlook for truck drivers is expected to grow by 2% from 2019 to 2029, which is slower than the average for all occupations. However, demand for goods and the need to transport them will still create job opportunities for truck drivers.
- What kind of benefits can I expect as a truck driver?
Benefits can vary by employer, but many trucking companies offer benefits such as health insurance, retirement plans, and paid time off. Additionally, some companies offer bonuses for safe driving or meeting other performance goals.
