The Toll of Driver Shortages: Idle Trucks Cost Industry $95.5 Million Per Week
The trucking industry is grappling with a severe driver shortage that is costing the freight sector nearly $95.5 million every week. According to a recent report by altLine Freight Factoring, approximately 24,000 truck drivers are missing from the labor pool, leading to countless trucks sitting idle and massive lost revenue opportunities. This blog delves into the report’s key findings, the economic potential of a fully staffed industry, and regional differences that highlight the unique challenges and opportunities across the country. The Economic Impact of an Unfilled Fleet The report analyzed data from November 22 to December 5, 2024, and revealed startling figures: Missed Revenue Opportunity: If all registered trucks were operational, the freight industry could generate an estimated $47.4 billion in annual revenue. Weekly Cost per Truck: Each idle truck costs approximately $3,971 per week in lost revenue. Total Shortfall: With a...