Over the Road May 2024

TRUCKING RECESSION?

Are we in a trucking recession? It sure appears that way to me, an outsider. In my safety consulting business, I get to visit many trucking companies. Most are the long-haul variety that also cross the border into the United States. Many of my customers are telling me one of two things. First, the amount of freight available is way down and secondly, the rates to move that freight absolutely suck!

So, what is a truck driver supposed to do if we are truly in a trucking recession because this means that in most cases, truck drivers are also suffering. You may not be getting the number of miles that you are used to and, if that’s the case, this also means your family is suffering because you are not bringing home the normal amount of revenue. The lack of revenue certainly affects your family and your family’s budget and when families don’t spend the normal amount of money on items, such as groceries and other new purchases, this then plunges the economy into a recession.

But why don’t we hear the word “recession” in the news? And why is it that the government isn’t saying that we are in a recession?

I had a good friend of mine explain it to me. He said that although the economy has certainly slowed, the measurements that the economists use to say that we are in a recession have not been triggered. They have not been triggered because people are still spending money, although less money. Instead of renovating their houses and spending money on their backyards by purchasing new pools and decks as we did during the Covid era, the same people are now taking trips and spending their money in other ways. Many of these other ways do not need trucks to move the purchased item. We do not need a truck to fly to Mexico for a vacation.

So, what is a truck driver to do? If your miles are down, you cannot take a vacation. If your miles are down, your children may not be able to participate

in those extracurricular activities that you’ve usually allowed them to participate in. If your miles are down, the family may be making different choices at the grocery store; trying to purchase cheaper items of less quality but still putting food on the table. After all, we all need to eat. The truck driver may also not be purchasing a larger home. You may be struggling just to pay the bills on the one that you currently occupy. And, of course, children seldom understand the cutbacks and the pain that situations like this can cause the parents.

If you are getting enough miles, and you are making your normal money, don’t quit. Sit tight because things will once again change in the not-too-distant future. If you are making good money currently, then I suggest that you just stay where you are and enjoy the miles.

If you are not getting enough miles at the company that you are at, there are lots of other companies that are hiring. But you had better have a great record, a clean Motor Vehicle Record (MVR) and very good documentation so that you stand out in the job interview. They are currently looking for the best of the best to add to their fleet.

So, if you are one of the best truck drivers available on the market, there

are people who’ll put you to work quickly and for good pay. If you have some blemishes on your record or a job history that shows too many employers in too short of a time, then you will have a more difficult job finding a new home.

Let me know what you think. Do you think we in a trucking recession even though the government doesn’t discuss recessions? Even though, our TRUCKING recession doesn’t meet the economic definition of a recession? Let me know how you’re making out. Let me know how your family is doing.

And keep your chin up. This too will change in the coming months, and I suspect before the end of 2024.

Safe driving, Chris Harris

Top Dawg, Safety Dawg Inc. 905-973-7056

chris@safetydawg.com

@safety_dawg (twitter)