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77% of Carriers Plan to Increase Pay for Drivers

FleetOwner reports that over three-quarters of carriers are planning to give drivers a raise, with close to half of them expecting to increase pay by 2-5%. These figures are based on the quarterly Business Expectations Survey by Transport Capital Partners. TCP Partner Richard Mikes notes that wages in trucking have lagged over the past year when compared to other industries. Healthcare policy is also a concern, due to uncertainty over the fate of the Affordable Care Act. Depending on who wins the Presidential election, the ACA could go into effect, or be overturned. Read the full article here.

Drivers Pay Likely to Increase reports that three-quarters of carriers are expecting to increase wages in the coming year in an effort to reduce driver turnover. The information comes from the Third Quarter Business Expectation Survey by Transport Capital Partners.

Uncertainty with how the upcoming presidential election will affect health care policies is also a concern for carriers, but not as much as was reported a year ago. TCP Partner Steven Dutro claims, “Without better pay and affordable health care for drivers, carriers will not be able to increase capacity for shippers.” Read the full article here.

BES Survey Points to Limited Growth in Capacity

As reported on Refrigerated Transporter, carriers are not likely to add much capacity in the coming year. According to the quarterly Business Expectations Survey from Transport Capital Partners, the number of carriers expecting to add little or no capacity has remained between 70% and 74% for the past five quarters. TCP Partner Lana Batts cites driver shortages, coupled with CSA and HOS regulations, as having a diminishing effect on equipment purchases.

Freight Carriers Reluctant to Add Capacity

The Third Quarter 2012 Business Expectations Survey from TCP shows that carriers remain slow to add capacity to their fleets. TCP Partner Richard Mikes notes an increase in the used equipment market, while Partner Lana Batts acknowledges the effects of a shrinking driver pool. Read the full article on Automotive World.

Carriers Expecting an Increase in Driver Wages Over the Next Year

Carriers are expecting an increase in driver wages over the next year, but a majority of carriers expect the increase to be less than 5% reports Today’s Trucking. This slight increase, however, will not be enough to attract news drivers to a career in trucking, says TCP Partner Lana Batts, in conversations about the data from TCP’s second quarter Business Expectations Survey. Read more here.

Carriers Anticipate Small Increase in Driver Wages

Bulk Transporter discusses the recent TCP Business Expectations Survey which found that while 93% of carriers anticipate an increase in driver wages, that 71% expect these increases to be under 5%. For more information about the survey findings, read the full article here.

Impact of Driver Shortage on Driver Wages

A recent article by DC Velocity discusses the concerns of carriers that a shortage of qualified truck drivers will lead to a large increase in driver wages. The article bases the information on findings from TCP’s second quarter Business Expectations Survey. For more information about carriers’ expectations for driver wages, read the full article here.

Small Increases in Driver Wages Likely to Exacerbate Driver Turnover highlights how small increases in driver wages will likely exacerbate driver turnover and deter possible new long-term drivers. The full article also discusses that while fuel prices have decreased slightly, carriers are still working on a variety of strategies to improve their full economy. Results from TCP’s recent industry survey are cited. Read the full artlcle here.

Driver Turnover Reaches Highest Mark Since 2008

FleetOwner reports on the “Slow Climb of Driver Wages Pressuring Turnover Rate” and discusses findings of TCP’s recent industry survey. While driver wages are climbing slowly, growth in other industries such as construction could prevent potential drivers from re-entering the industry. Additionally, driver turnover reached its highest mark since the first quarter of 2008 with 90% turnover in the first quarter of this year. Read the full article here.

Trucking Capacity Shrinking Due to Driver Shortage

Is a shortage of drivers hampering the trucking industry? In a speech made by Rosalyn Wilson, author of the 2012 Annual State of Logistics Report prepared by the Council of Supply Chain Management Professionals, predictions are made that trucking capacity is shrinking due to a shortage of drivers. Wilson references findings from TCP’s quarterly Business Expectations Surveys. Read the Charleston Business Journal’s review of the speech here.