Economic Impact As Incentives Fail to Entice More Drivers
The transportation industry is desperate for qualified drivers. Carriers are offering larger salaries and promising more time at home to try to persuade more drivers to join their companies. The lack of qualified drivers is limiting the ability for trucking companies to grow. Hiring and retaining drivers is becoming increasingly more costly. Partner carriers of Palisades Logistics are experiencing these trends in the same way as every other carrier across the nation.
The situation is costing shippers more money as carriers are forced to increase rates to cover costs. More shippers are willing to pay because they continue to find it harder and harder to find enough capacity to move their freight. As manufacturing jobs start to slowly move back to the US from China and other countries, what is the impact? Will the shortage of drivers and lack of transportation capacity slow US economic growth and the return of manufacturing to the United States?