A new report dealing with the U.S. economic outlook estimates that the economy will grow by about 3% in 2014. The report, which was published by the Equipment Leasing and Finance Foundation, shows the fastest rate of growth since the 2008-2009 economic recession. The American Trucking Association claims that the economic recovery will mean both more jobs for drivers and an increase in driver turnover.
According to Bob Costello, chief economist for the ATA, “the market for experienced, qualified drivers remains exceptionally tight.”
Costello pointed to both an increase in freight volume and ‘regulatory pressure’ as two main reasons why there will be an increased demand for drivers. The ATA expects that the increase in demand will result in higher driver turnover.
In an interview with Fleetowner, Costello reported that he expects that “as the economy continues to pick up, we’ll see that market get even tighter,” but made no mention as to how carriers would be responding to increased demand for drivers.
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