FTR Associates projects the driver shortage will shrink slightly to just over 100,000 drivers in the second quarter of 2005. The ability to put drivers in vehicles, the company pointed out, has a major impact on individual fleet and industry expansion plans.
In January 2005, FTR reported that the driver labor environment tightened for the second consecutive month, primarily due to fewer people participating in the total workforce in both December and January. According to the company, a turn-around during the second quarter will result from modest hiring activity offset by a slower growth in freight.
FTR Associates, located in Nashville, IN, has been a leader in transportation forecasting for over 20 years. Monthly it publishes the Driver Labor Market Indicators report, which looks at supply and demand issues as well as how freight and broader labor markets all affect the pool of available drivers.
FTR’s forecast reports cover both trucking and rail transportation. Specially designed analysis reports are offered to participants in both industries. Sample reports and additional information can be found at www.ftrassociates.net.