Driver pay and other incentives are on the rise, spurred by a growing economy, tight capacity, driver turnover and a persistent shortage of drivers, leaders from the National Transportation Institute recently told investors from Stifel, Nicholas & Co.
Longhaul truck driver pay rose in the third quarter as the truckload market tightened over the summer, setting the stage for a lift in salaries in 2018, according to the National Transportation Institute.
Increased demand for freight hauling is putting more pressure on motor carriers to raise compensation for drivers.October 3, 2017
The National Driver Wage Index, which measures over-the-road driver pay, rose 0.9% year-over-year in the second quarter, but the index is likely to grow at a faster pace as truckload carriers experience the positive effects of economic growth and the electronic logging mandate on freight rates, according to the National Transportation Institute.
Southern Refrigerated Transport will raise pay a penny per mile Oct. 1.July 10, 2017
Averitt Express Inc. has increased pay in an effort to recruit and retain drivers, a sign that the less-than-truckload sector of trucking is doing slightly better than the truckload side.July 10, 2017
Bay & Bay Transportation, an Eagan, Minn., truckload carrier, increased pay for its refrigerated van owner-operators on April 1, company President Sam Anderson told Transport Topics.April 21, 2017
CFI, the truckload division of the former Con-way Freight, raised driver pay this month 2 cents per mile and announced the purchase of 626 new Kenworth tractors.January 12, 2017
USA Truck Inc. increased driver pay as much as 38% for some independent contractors beginning Oct. 1, the company announced.October 14, 2016
Driver pay increases are continuing at a brisk pace as fleets turn to weekly guarantees, new mileage calculation approaches and steps to cushion fuel price swings, carrier officials and industry experts said.