Truck Driver Jobs May Be At Risk: Truckers Hit Hard By Rising Fuel Prices

The continuing rise in fuel prices, particularly diesel prices, is affecting truck driver jobs. Independent truck drivers are struggling to pay for fuel and earn a living. If the cost of fuel continues to rise, independent truck driver jobs may be lost across the nation. Anyone considering entering the truck driver job market is well advised to consider working for truck companies. The following article reports on the effects of rising fuel prices on truck driver jobs as well on projections for the number of truck driver jobs in the future.

Rising fuel prices affect owner-operator truck drivers. The trucking industry’s owner-operators are self-employed. Of the estimated 3.4 million truck drivers in the U.S., about 9% are independent truckers, according to the U.S. Department of Labor. However, many are on the edge of bankruptcy, according to one report. Robert Griffith is a self-employed trucker, and his story is featured in the report. He spent $64,000 on diesel in eight months. This has forced him to cut back on other expenses. Griffith uses three-quarters of his earnings for fuel and maintenance. If fuel prices continue to rise, then many independent truck drivers may be forced out of business.

Jobs at Trucking Companies Hold Steady

While independent truck drivers are struggling, public trucking companies have recorded profits and seen their stocks climb in 2008. Part of the reason for this is what cripples independent truck drivers. Trucking companies are able to buy diesel fuel in bulk and store it at their depots. Buying in bulk affords trucking companies a price break. Independent truck drivers, on the other hand, have to buy diesel at gas stations, where the price for diesel has recently risen by 38 cents per gallon. As truck drivers working for trucking companies do not pay out of pocket for gas, truck driving jobs may be more steady at trucking companies.

Truck Driver Job Outlook: What Does the Future Hold for the Trucking Industry?

The most recent data available on truck driver jobs is for the year 2006. This information provides a good snapshot of the trucking industry. The U.S. Department of Labor’s Bureau of Labor Statistics reported that the ''truck transportation and warehousing industry provided 2.1 million wage and salary jobs in 2006. The most recent update of this information was on December 18, 2007. Of these 2.1 million trucking and warehousing jobs, about 45% were truck driver jobs.'' Truck driver jobs have indeed been plentiful.

This same report includes projections of truck driver jobs for the next eight years. Truck drivers are divided in three distinct categories by the U.S. Department of Labor. Heavy and tractor-trailer jobs are expected to increase by 13.7% by 2016. Light or delivery services truck driver jobs are expected to increase by 16.7% by 2016. Industrial truck and tractor operator jobs are expected to increase by 15.7% by 2016. Overall, truck driver jobs are projected to increase by an average of 15.4% over the next eight years.

Truck Driver Job Projections May Be Inaccurate Due to Current Economy and Job Market

However, as this information was last updated on December 18, 2007, prior to the fuel price hikes in 2008, the projections may not be very accurate. As more and more people struggle to earn a living working as truck drivers, the number of truck driver jobs may not increase as expected.

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Truck Driver Jobs May Be At Risk: Truckers Hit Hard By Rising Fuel Prices