Truck Driver Short­age Hits Texas, U.S. Econ­omy

The Bond Buyer - - Market News -

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.

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