> Because trucking is too easy to get into, companies can't simply raise their rates because other companies will undercut them.
How are they going to undercut them without drivers available to actually do the work?
This narrative is absurd. Per mile domestic truck shipping rates have gone up dramatically in recent years, and are generally quite variable. Trucking profit margins were until quite recently way up, the fall driven by high fuel prices and interest rates (which increase the costs of equipment financing and insurance) and reduced demand.
The truth is trucking is currently going through a recession with freight demand down and empty miles up. Trucking companies most certainly could raise rates and pay pay to attract more drivers; right now they don't want more drivers.
How are they going to undercut them without drivers available to actually do the work?
This narrative is absurd. Per mile domestic truck shipping rates have gone up dramatically in recent years, and are generally quite variable. Trucking profit margins were until quite recently way up, the fall driven by high fuel prices and interest rates (which increase the costs of equipment financing and insurance) and reduced demand.
The truth is trucking is currently going through a recession with freight demand down and empty miles up. Trucking companies most certainly could raise rates and pay pay to attract more drivers; right now they don't want more drivers.