Driver pay raise trend catches crosswinds

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Noel Perry from Transport Futures consulting firm told Transport Topics that although driver pay has increased over the years, the demand has slowed and might “shrink further.” “When that happens, the demand for drivers does the same thing with the usual overshoots… and with the overshoot, that means there’ll be an overreaction in the other direction.”

According to Rob Hatchett, president of Fleet Intel at Conversion Interactive Agency, carriers have approached driver pay in a different way over the last two years. He said that the “people that have done the huge pay increases over the past two years, they’re not having to do more pay increases because they’ve already made a big jump and they have been able to get drivers.” According to Hatchett, some carriers have not raised pay due to market uncertainty, but are still under pressure to do so. Meanwhile, to keep up with the market, other carriers issued incremental pay increases over time. Click here to learn more about the story.