Truck-Driver Pay Rose 11% Amid Strong Freight Demand Last Year
Truck driver compensation is getting an overhaul under the pandemic-driven strains in supply chains, reports The Wall Street Journal. A new survey shows wages for truck drivers rose at a double-digit pace last year, as companies raced to recruit workers in a market marked by tight labor conditions and high freight demand.
The American Trucking Associations said in its annual salary survey that average wages for drivers of big rigs across the sector reached about $69,700 last year, up 11% from the previous year.
The sharp increase came before high inflation began coursing through the economy this year, and is one sign of the changes in the business landscape as supply chain and transportation issues have grown more prominent.
Big trucking companies reporting earnings say their labor costs are sharply higher again so far this year, even as some say recruiting is getting easier while freight demand is softening.