Carriers’ labor costs set for strong gains next three years
June 9, 2011
Labor remains a carriers most significant cost item. Aside from a one-year respite during 2009, labor costs have generally grown between 5% and 10% each year. They are likely to stay near the top side of that range over the next 3 years as we deal with a growing economy and a tight (and tightening) capacity environment.
Field reports of 10% labor price increases indicate that the driver market is tight despite the weak economy. The slowdown has prevented a full-on shortage – for the time being.
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