Trucking Companies Boost Pay in Hunt for Drivers as Demand Surges
U.S. trucking companies are scrambling to hire more drivers as roaring consumer demand and tight shipping capacity stoke a resurgent freight market.
Knight-Swift Transportation Holdings Inc., the largest truckload carrier in North America, is the latest trucking company to raise pay. It said last week that its wages for recently certified drivers have jumped by 40% or more in recent months.
The company said its driving-school graduates are on track to earn more than $60,000 a year in their first year after training. Median pay for heavy-truck and tractor-trailer drivers last year was $47,130, according to the Bureau of Labor Statistics. Yellow Corp. , one of the biggest U.S. trucking companies, hired nearly 2,000 drivers and dock workers in the first quarter of 2021, and is holding some 24 recruiting events between now and July. The company has 14 driving academies and plans to open more. Yellow is also holding pop-up schools for smaller groups at some freight terminals.