DRIVERS' SHORTAGE * Canada & USA - So, where will transportation employers find skilled workers in the future?...
Trucking needs new ideas to fix pending worker shortage
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* USA - Driver Pay Falling as Demand Rises, Study Shows. Morgan Stanley warns falling pay could hobble carriers in expansion
New York,NY,USA -The Journal of Commerce Online, by William B. Cassidy -May 19, 2010: -- Trucking executives may get the driver shortage they fear unless they reverse wage trends in the industry, an investment research firm warned today... Truck driver pay dropped 6.6 percent from late 2008 through the first quarter of 2010, and continued to decline in April, according to Morgan Stanley Research... That's twice the decline in pay truck drivers suffered during the 2001-2003 downturn, according to Morgan Stanley's Truckload Wage Index... In April, the gap between wages and salaries for all private industry workers and truckers widened to almost 20 percentage points, according to the Truckload Wage Index... The survey shows driver pay falling even as trucking companies report surging freight demand and concerns over a potential shortage of truck drivers later this year... Transportation analysts called "aggressive" driver pay reductions "counterintuitive," suggesting they may be responsible for the "shortage" some carriers are experiencing... Driver shortages that tighten capacity may be "good for pricing," but hefty pay increases could cut into profit margins, offsetting pricing gains, Greene and Longson said... Driver pay shot up by as much as 12 percent in that period, they said...
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