PTSI - Trucking industry is going to have to pay a lot more to attract new drivers

According to the American Trucking Association, total freight volumes this year have collapsed more than 10% to 14.6B tons, but those are expected to rebound 4.9% in 2021."If we see that level of demand go up next year, the industry is not going to be able to meet it. This year we believe there will be a 15%-20% increase in wages for drivers, though all that is going to do is reshuffle the deck of drivers that exist today and it's probably not going to bring a lot of new people back into the industry," U.S. Xpress ([[USX]] -0.9%) CEO Eric Fuller told Yahoo Finance."The bigger part of the story is on the supply side, namely available drivers. What we have seen this year is about 130K-150K truck drivers come out of market.""Part of them have come out due to COVID. We also had a Drug & Alcohol Clearinghouse that

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Trucking industry is going to have to pay a lot more to attract new drivers