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Trucking salaries expected to rise to help with driver shortages

Posted by Genie Wood on Sat, Oct 18, 2014 @ 02:19 PM

The trucking industry has been experiencing a shortage of drivers for several months now, and unless something changes, this shortage is likely to only increase. As such, many trucking companies have announced that they will be offering wage increases to both new and experienced drivers in an attempt to attract new drivers to the job, and to try and retain the drivers that they already have.

In fact, according to the president of the Americas Commercial Transportation Research Co., Kenny Vieth, driver wages could increase as much as 6% in order to help close the gap between the number of existing drivers and what seems to be a never-ending increase for driver demand. 

Much of the increase in shipping needs in recent months has come as a result of the United State's recent energy boom, particularly in natural gas. Many regions in the U.S., such as the Eagle Ford Shale region of Texas, are experiencing unprecedented amounts of energy production, all of which necessitates specialized heavy hauling services. 

Truck driver shortages is only one of many challenges facing trucking companies and independent drivers in the U.S. For many, while business may be booming, financial constraints can still be significant if and when customers fail to make timely payments on their invoices. If you’re experiencing difficulties making ends meet because of late or non-payments, the experienced freight factoring experts at TBS Factoring Service are here to help. Call us today at (800) 207-7661 to find out what we can do for you.  

Tags: TBS Factoring Service, freight factoring, Trucking Industry