Looking Forward

In my last blog post, I mentioned some problems that trucking companies are having in finding truck drivers to work for them. There were a few causes of this, such as a stronger economy boosting the amount of products that need to be moved, a shortage in drivers available to be hired, and the laws that restricted hours of operations and drivers under the age of 21 from being able to deliver loads over state lines. Since these are causing problems for trucking companies, it is also causing smaller margins on loads for brokerages since drivers are in high demand and have a low supply. Since there are not as many drivers, the prices per load have increased due to the demand of needing to move products.

While this is a problem now for the industry, there are a few things that could happen in the future that can solve these problems.

First, there is a bill that has been written and submitted to the government to get rid of the law for prohibiting drivers under the age of 21 from delivering loads across state lines. This could be huge for the industry because a lot of graduating high school students are looking for jobs, and since they cannot get one with interstate trucking companies, construction jobs are much more appealing.

The second solution is still a long time away, but with the advancements in the self-driving semi trucks, they could be available and running in the next decade or two. This would certainly solve the shortage of drivers since there would be less of a need for them. It would also reduce costs for trucking companies, and would allow brokerages to increase their margins with the amount of new trucks entering the marketplace.

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