Driver shortage expected to keep shrinking
Apr 1, 2005 12:00 PM
Strong demands for competing labor continue to put pressure on the Driver Labor Index (truck share of employment) calculated by FTR Associates. However, FTR's forecast for slowing freight growth in 2005 is allowing fleets to work off some of the record driver shortages accumulated during the past 18 months. The company predicts the driver shortage will continue to shrink, ending 2005 with a shortfall of 33,000 drivers, down from the estimated cumulative shortage of 300,000 during 2003-04. Any upturn in freight demand will reverse this trend and significantly impact the industry's need for more drivers.
The Driver Labor Market Indicators report looks at supply and demand issues as well as how freight and broader labor markets all affect the pool of available drivers. For more information about FTR Associates, phone Eric Starks at 812-325-4690 or visit www.ftrassociates.net.
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