America is largely dependent on the trucking industry. The industry thrives on-road transportation and covers semi-trailers and light trucks.
It moves freight across the whole country, moves goods and products, from petroleum to your dairy needs, and keeps millions employed.
A Business Insider report said that if truckers for long haul routes stopped working for three days, experts predict that supermarkets may run out of goods and food to sell. Here is a look at the multi-billion dollar truck industry in America that has helped keep the country on track.
An increase in the number of truckers
According to the country’s census, the industry had a decline during the recession, but it has since seen a resurgence with the number of truck drivers.
A June 2019 census report said trucking business recorded 711,000 employers and self-employed in the industry. This is higher than the numbers the industry employed before the recession.
Employment in the trucking industry
The industry, including driver staffing companies, employs about six percent of workers in the country.
According to a Business Insider report, in 2018, there were some 129 million full-time jobs in the country, and about 7.4 million of these found employment in the trucking industry.
The same report, however, said that truckers earn less in a year than other workers. The median annual wage of truckers in 2018 is $43,680. This is $3,000 less than the annual median income which is $46,800.
Truck drivers by the numbers
A 2017 American Community Survey, as reported by the census, showed that on average, drivers of truckers are older than most workers since truckers’ median age is 46. Meanwhile, the median age of other workers is 41.
The same poll said that about seven percent of truckers have bachelor’s degrees, while in other industry’s some 35 percent of employees have attained bachelor’s degrees.
Truckers report for work for the regular hours in every workweek, however half of them opt to work for more than the regular 40 hours, according to the poll. Only a quarter of other workers, however, work for longer than the regular hours.
Movement of freight, trade-in and out of America
The multi-million dollar industry moves 71.4 percent of America’s freight or about 11.49 billion tons, according to the American Trucking Associations.
The American Trucking Associations reported that in 2018 trucks moved 67.4 percent of value surface trade between America and Canada.
Between the United States and Mexico, trucks transported more on the value surface trade. Numbers said the industry moved 83.5 percent between the two countries in the same year.
Trucking industry drives growth
The American census also noted an increase in revenues from the trucking industry in the third quarter of the year, or when retailers prepare for the sales in the holidays. In the third quarter of 2018, the industry posted $77 billion of revenue, but it fell to $75 billion by the fourth quarter.
The trucking industry also continues to grow over the years. The American census said that between 2012 and 2016, business in the said market grew by 15.9 percent. The total growth of other industries was then held at only 8 percent. The growth translated to some 200,000 people finding work in the trucking industry.