Driver shortage causes $95.5 million losses in road transportation

The magnitude of the problem: million-dollar losses

The driver shortage is leaving many trucks idle, leading to a reduction in the income the sector could generate. According to altLine’s report, if all registered trucks in the country were operating, the industry could generate up to $47.4 billion annually. However, the lack of drivers is causing a potential loss of nearly $50 billion every week, considering both heavy-duty trucks and straight trucks, whose combined revenue is far from being achieved due to the labor shortage.

The report also presents a detailed map of the demand for truck drivers in different states. Missouri is the state with the most job openings, with an average of 202 vacancies daily, meaning there are about 673 vacancies available at any given time. On the other hand, Wyoming stands out for having the highest demand for drivers relative to its population, with one vacancy for every 1,031 residents. Texas, despite being one of the states with the highest transportation volume, has relatively low demand compared to its population, which leads to greater competition among drivers.

Another crucial factor in the analysis is job turnover in the sector. Ohio and Nebraska stand out for their high turnover and quick hiring times, with Nebraska reaching an average of just 2.5 days to fill a position. However, Indiana shows a lower turnover rate and an average hiring time of nearly two weeks, indicating that employers are facing greater challenges in finding and retaining drivers.