ACT Research’s August For-Hire Trucking Index reported a tight trucking market fueled by ongoing volume, rate surges, and increased driver shortages.
For-Hire Trucking Index Emphasizes Continued Driver Shortage
ACT Research’s August For-Hire Trucking Index reported a tight trucking market fueled by ongoing volume, rate surges, and increased driver shortages.
September 24, 2020
Source: ACT Research
1 min to read
August’s volume index rose to 67.9, while productivity was at 67.8. Both capacity and driver availability decreased to 48.9 and 32.0, respectively. Strong demand and tight supply pushed the pricing index up to 66.4, a new two-year high.
“The average age of U.S. truck drivers is 55, and while we usually have some number of drivers near retirement who will just participate in peak rates, the calculus is different this year,” said Tim Denoyer, ACT Research’s vice president and senior analyst.
While he believes driver supply will gradually improve, driver schools are currently challenged by the need for social distancing.
“We expect driver pay to start increasing to address the shortage, but this process takes time. Meanwhile, the acute tightness of the past few months isn’t likely to ease much,” he added.
More Fleet Management
Fleet Managers Invited to Apply for Exclusive HDT Exchange Event
HDTX is an intimate event that connects heavy-duty trucking fleet managers with industry suppliers through small-group discussions, educational sessions, and structured one-on-one meetings.
Read More →Fleet Managers Invited to Apply for Exclusive HDT Exchange Event
HDTX is an intimate event that connects heavy-duty trucking fleet managers with industry suppliers through small-group discussions, educational sessions, and structured one-on-one meetings.
Read More →Fleet Managers Invited to Apply for Exclusive HDT Exchange Event
HDTX is an intimate event that connects heavy-duty trucking fleet managers with industry suppliers through small-group discussions, educational sessions, and structured one-on-one meetings.
Read More →
DAT Launches iPhone Widget to Help Owner-Operators Find Loads Faster
New DAT One feature shows top-paying loads directly on an iPhone’s home screen, helping carriers react faster to spot-market opportunities.
Read More →
Optimal Dynamics Launches AI System to Help Carriers Choose Better Freight
Optimal Dynamics says its new Scale platform uses AI agents and optimization to help carriers find and secure freight that improves network balance and profitability.
Read More →
DAT: Flatbed Demand Climbs as Van and Reefer Rates Soften
DAT Freight & Analytics data shows tightening flatbed capacity, easing produce markets, and softening van and reefer rates.
Read More →
Run on Less “Messy Middle” Data Shows Multiple Paths Forward for Truck Powertrains [Watch]
NACFE's Run on Less - Messy Middle project demonstrates the power of data in helping to guide the future of alternative fuels and powertrains for heavy-duty trucks.
Read More →
Federal Court Lets NYC Congestion Pricing Continue
A federal court ruling allows New York City’s congestion pricing program to continue, leaving truck tolls in place for fleets delivering into Manhattan.
Read More →Federal Court Lets NYC Congestion Pricing Continue
A federal court ruling allows New York City’s congestion pricing program to continue, leaving truck tolls in place for fleets delivering into Manhattan.
Read More →
Fontaine Modification Launches Real-Time Truck Modification Tracking Portal
Fontaine Modification has introduced a new customer portal designed to give fleets real-time visibility into the truck modification process, addressing one of the most common questions fleet managers face: “Where’s my truck?”
Read More →