Many believe the trucking industry is in for huge growth through the end of the year. As America moves into a new phase with COVID-19, the feeling is consumers are ready to spend money again. A second round of stimulus checks, available vaccines, and summer headed our way, it’s very possible there will be even more demand on goods. Truck drivers are positioned to benefit from a rise in demand and the short supply of drivers. Here are four reasons the trucking industry is heating up:
Record Retail Growth
After 2020 imports increased 1.9% year-over-year, the National Retail Federation is forecasting record sales growth. Units coming into major U.S. container ports were up 23.3% year-over-year. January 2021 was up 13% YoY.
Consumer Spending Up
Consumer spending increased 7.4% in December 2020 YoY, and many are forecasting March to be +44%. The availability of COVID-19 vaccinations is loosening up many state mandates on capacity at restaurants, events, and gyms. E-Commerce spending is surging from another round of Stimulus Checks. Home prices are rising, usually signaling an increase in consumer confidence and spending.
Government Spending Going Up
The Biden administration is planning on spending $2 trillion on infrastructure with a concentration on roads, bridges, public transit, electric vehicles, and broadband. The bill also includes money for upgrading electrical grids and water systems. Increased government means an increase in materials delivered by trucks.
The Economy is Heating Up
The Atlanta Federal Reserve, which tracks real-time data in estimating gross domestic product changes, indicates a 10% gain for the first three months of the year. 2020 saw a shift from goods and services to mainly goods. With entertainment and other activities coming back (or predicted to come back), there is a good chance spending on services starts to return.
What’s the 2021 Outlook for Truck Drivers?
Because fewer drivers are working in the trucking industry today, the increased freight demand, and some companies are struggling with reduced capacity, the outlook for drivers in 2021 is excellent. Knight Transportation is part of North America’s largest truckload fleet and expects to hire 4,000 truck drivers in 2021. Our variety of truckload services are adaptable, flexible, and customizable – making Knight Transportation a stable nationwide carrier.
5 Reasons to Drive for Knight Transportation in 2021
- The average tractor age is under two years old, compared to the 6+ year industry average.
- Driving Associates develop personal relationships with decision-makers and terminal team members.
- Regional runs available that keep Driving Associates within a day of home.
- Massive trailer fleet with a 3:1 trailer ratio.
- The highly diverse customer base enables you to have consistent, predictable freight throughout the year.
Interested in driving for Knight Transportation? View Trucking Jobs.
You may also enjoy the 5 Advantages of Being a Refrigerated Truck Driver.