Sunday, June 24, 2018

Delaware Business Insurance Update from CNC Insurance Associates, Truck Driver Shortaqe in the USA and Why It Matters, 6-24-18

There is a truck driver shortage in the US. The booming economy is requiring more delivery and a greater demand for moving frieght. According to the American Trucking Association, we are 50,000 jobs short. In other words we need 50,000 new drivers to cover the demand. Business owners are now faced with keeping thier current drivers and competing against other businesses for the drivers who are still out there looking for jobs.  Some of the reasons for the shortage is a lot of younger drivers are not qualified and have very little experience driving trucks. Also many drivers do not want to spend their week on the road, staying over night and away from their families.  New hour of service rules keep these drivers away.
The jobs are paying better. The average pay for a commercial driver is over $53,000 a year.  However this is still not enough money to attract people to want to work driving a truck. So why does this matter?  Well the lack of drivers could put a damper on the growing economy. Also business owners will have to budget to increase driver pay as they do not want to lose the good ones they have already.
This is an interesting time in American commerce as a driver shortage has not been seen before.
Only time will tell how this will play out.  Until next time be careful out there and know your risks.

G. Kevin Nemith - CEO  CNC Insurance Associates / The Hilb Group
www.cncinsurance.com
1-877-262-3276 toll free