Industry experts say the trucking market is beginning to tighten after several years of too many trucks competing for freight. As capacity shrinks, carriers may need to offer better pay and benefits to attract and keep experienced drivers.
Analysts say stricter safety enforcement, carrier closures, and fewer new drivers entering the industry are reducing the number of trucks available to haul freight.
At the same time, spot freight rates have been rising in many parts of the country, giving some fleets more room to improve driver compensation if market conditions continue to improve.
Many fleets are also focusing on keeping experienced drivers by offering better equipment, more home time, improved benefits, and bonus programs instead of relying only on hiring new drivers.
Industry experts believe driver wages could continue rising if trucking capacity remains tight and freight demand stays steady over the coming months.