Why the Trucking Shortage Is Costing You
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A shortage of truck drivers that has been simmering in the United States for years has reached a full boil, causing anxiety from small factories to the Federal Reserve. Trucking companies have responded by raising wages and boosting their hauling fees. Their customers then have to choose between smaller profits or passing along the higher costs, which fuels inflation. Some producers have encountered a shortage of trucks, which can tap the brakes on economic growth. Don’t expect the problem to go away soon: In the tight labor market, construction and manufacturing jobs will continue to lure would-be truckers.
