Today's N&O runs a story about how hard a time trucking firms are having filling open positions for truck drivers. Economic logic would make one skeptical of this claim: unemployment remains over 8% and trucking jobs pay relatively well ($38-40k plus benefits for entry level) for work with low educational requirements. Given the massive loss of construction jobs (compared to five years ago), one would think trucking would easily absorb some of the surplus labor from that sector.
The article says one cause of the surplus is that prospective truckers are unwilling or unable to pay the $4-6k cost of learning to drive a truck. Another is federal regulations requiring clean safety records of all new truckers. But the real mystery to me is why pay is not rising to attract even more people into the field.
Dow hits 20,000
2 months ago