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> those who are earning less this year compared to last due to inflation and wage stagnation. The article discusses this briefly: > The trucking industry is i
by wgerard 8y ago
> those who are earning less this year compared to last due to inflation and wage stagnation.
The article discusses this briefly:
> The trucking industry is instructive here: Trade groups have argued that it is facing a shortfall of 51,000 workers, yet businesses have not yet shown much willingness to cut hours, boost pay, and improve conditions to lure workers in. Indeed, across the economy, companies have shown a remarkable unwillingness to boost wages, with growth barely keeping pace with inflation even as the unemployment rate has dropped to 4 percent.
It'll be interesting to see what happens if those industries start to get really desperate for employees. My guess in some of them is a hard push for automation (esp. in trucking), but we'll see.
- elvirs 8y agoone of the reasons for reluctance to boost pay could be the fact that profit margins of trucking companies have decreased in recent years despite increasing demand for their services. Also they have found a way to enable illegal immigrants to drive trucks which gives another source to companies to keep trucker wages low. I am an immigrant and know so many guys (from my country) who could not find any other job (because lack of paperwork) start driving trucks, mostly for Florida based companies.
- HillaryBriss 8y agowhy have trucking profit margins decreased?
- elvirs 8y agoI would guess because of competition from VC funded companies from ecommerce and self driving trucks industries trying to disrupt trucking business