Truck Driver Shortage Hits Texas, U.S. Economy
Nationwide, long-haul truck shipping rates were 10% higher in July year-overyear, excluding fuel costs, according to Cass Information Systems, which tracks freight transactions.
This is how a shortage of tens of thousands of truck drivers gains a grip on the growing American economy. It throttles the Texas shale fields and tacks on costs to products traveling through the Port of Houston. It’s one reason why Amazon just hiked prices for Prime, its membership that includes free two-day shipping for many products. And it’s why, this Labor Day, the freight industry is scrambling to address a workforce crisis.
The country is short more than 50,000 tractor-trailer drivers, a number expected to swell to more than 174,000 in eight years, according to the American Trucking Associations.