The American Trucking Association estimated that the U.S. is short 30,000 truck drivers due to low pay, new regulations and lack of interest.
According to Business Insider, the turnover rate at large truckload carriers was at 92 percent for the first quarter, and was above 90 percent for the ninth straight quarter. Four years ago, that number was at 39 percent.
While 92 percent was a high turnover rate it didn't mean that the majority of truckers were leaving the industry. According to the article, there were a lot of drivers who jumped from carrier to carrier without a lot of new drivers added to the pool, so that increased the turnover rate.
The new regulations that caused some truckers to leave were put into place last year and put limits on the amount of hours truckers could be on the road. As a result, carriers had to add more trucks and drivers to haul the same amount of freight, which increased their cost.
Swift Transportation was the largest truckload carrier in the U.S., and they experienced a shortage of drivers just like the other carriers. But, according to Business Insider, they offered higher wages and better training to try and attract more truck drivers.
The trucker shortage was expected to surge to 239,000 by 2022. The ATA estimated that the industry needed on average 100,000 new drivers each year over the next decade.