Hourly driver pay remains rare
The Federal Reserve Bank compiles feedback from contacts in its 12 districts. In the New York district, a trucking-industry contact reported some pickup in business in recent months, though conditions remain weak. “There are scattered reports of shortages of truck drivers – partly due to more stringent requirements for commercial drivers’ licenses,” the Fed reported in April, without elaborating.
The Cleveland district noted freight transport volume and freight costs, particularly on ocean freight, were up dramatically. Atlanta’s district said freight demand was continuing to improve, the Fed said.