During the pandemic, there was a lot of talk about a shortage of truck drivers,
but it’s hard to find people to do hard work like truck driving for low pay,
and the trucking industry has been willing to put up with hard work to make a living.
But now that the pandemic is coming to an end, the demand for truck drivers is dwindling and those who drive for a living are putting their livelihoods at risk.
What our freight analysts say
Freight analysts say the changes in trucking caused by the pandemic in 2020 were unlike anything the industry had ever seen before,
and those changes are continuing today. The number of for-hire carriers in 2023 is double what it was in 2020,
largely due to the pandemic-induced collapse in diesel prices, which reduced the operating costs of trucking companies.
How the trucking industry got tough
As the operating costs of trucking decreased, many people began to jump into the trucking industry,
even if it meant taking out loans, and the number of for-hire carriers began to grow rapidly.
Then the war between Russia and Ukraine began and diesel prices began to rise, making it harder for truckers to afford fuel.