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Sunday, March 3, 2024

Could the economy be improving?


Trucking is one of the harbingers of the health of the economy.  Do raw statistics tell the absolute story?  The for-hire trucking industry has added nearly 10,000 new carriers, according to QualifiedCarriers.com. The industry now has 186,200 active carriers.

An active carrier is defined as one with a Department of Transportation registration number, a motor carrier number, active operating authority and proper insurance. Active carriers account for a fraction of the more than 500,000 carriers registered with DOT.

Since April 2012, the number of active carriers has increased nearly 12 percent; however, not all new carriers represent an increase in capacity. Many are new owner-operator authorities taken out by experienced drivers, and others are new ventures under existing parent companies. Some may also be reactivations of lapsed authorities.

“I believe many drivers have re-engaged and activated their authorities, based on opportunities in the market, just as I believe many drivers seek ‘shelter’ within big truckers during downturns,” says Jeffrey G. Tucker, CEO of QualifiedCarriers.