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The truck driver shortage is only getting worse—here's why

By Elena Wiedlin of Stacker |

Slide 1 of 6: Since the start of the COVID-19 pandemic, truckers have faced a series of circulating problems, including driver shortages and difficult working conditions. But the sharp increase in e-commerce in 2020 put a strain like no other on the industry. In just one year, e-commerce—the buying and selling of products over the internet—surged 43%, the Census Bureau reports, growing from $571.2 billion in 2019 to $815.4 billion in 2020. That surge brought new pressure to the truck driving industry, adding to an already challenging driver shortage. Truckinfo.net analyzed trends in e-commerce over the past few years and looked at how the spike in online shopping and business has affected the truck driver industry—and how retailers and drivers have adjusted. Heading into 2023, challenges in the industry likely won't ease, according to a forecast from Bloomberg Intelligence. Flatbed trucks, for example, are employed heavily for building material transportation, but the housing market has seen a sharp downturn as the Fed raises interest rates. And trucking companies will continue to suffer from supply chain troubles that limit their ability to add tractors to their fleets. The truck driver shortage will also likely continue to bedevil the industry. The American Trucking Associations in October estimated the 2022 shortage at nearly 78,000 drivers, just shy of the historical record high of more than 81,000 in 2021. The association predicts that number could grow to 160,000 by 2031 if current trends continue. Read on to learn more about several ways the trucking industry is facing some of its biggest challenges. Find a Qualified Financial Advisor1. Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes.2. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Get started with achieving your financial goals!

How the pandemic e-commerce surge spiked demand for truckers

Since the start of the COVID-19 pandemic, truckers have faced a series of circulating problems, including driver shortages and difficult working conditions. But the sharp increase in e-commerce in 2020 put a strain like no other on the industry.

In just one year, e-commerce—the buying and selling of products over the internet—surged 43%, the Census Bureau reports, growing from $571.2 billion in 2019 to $815.4 billion in 2020. That surge brought new pressure to the truck driving industry, adding to an already challenging driver shortage.

Truckinfo.net analyzed trends in e-commerce over the past few years and looked at how the spike in online shopping and business has affected the truck driver industry—and how retailers and drivers have adjusted.

Heading into 2023, challenges in the industry likely won't ease, according to a forecast from Bloomberg Intelligence. Flatbed trucks, for example, are employed heavily for building material transportation, but the housing market has seen a sharp downturn as the Fed raises interest rates. And trucking companies will continue to suffer from supply chain troubles that limit their ability to add tractors to their fleets.

The truck driver shortage will also likely continue to bedevil the industry. The American Trucking Associations in October estimated the 2022 shortage at nearly 78,000 drivers, just shy of the historical record high of more than 81,000 in 2021. The association predicts that number could grow to 160,000 by 2031 if current trends continue.

Read on to learn more about several ways the trucking industry is facing some of its biggest challenges.

Find a Qualified Financial Advisor

1. Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes.

2. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Get started with achieving your financial goals!

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