The trucking industry is strongly contributing to the U.S. economy. It supplies goods and jobs to local businesses and communities. So, it’s too important to keep the industry thriving. This article will tell you more about the topic and will help you get a merchant cash advance from a reliable provider.
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The trucking industry generates hundreds of billions of dollars in freight revenue, according to the American Trucking Associations (ATA). It accounts for over 5% of all the full-time jobs in the U.S. In recent years, the industry has witnessed an increased growth rate.
The trucking industry includes more than 7 million professionals, among them drivers, technicians, vendors, and partners, and provides deliveries to the vast majority of the U.S. communities.
E.g., in Nevada, the majority of the communities trust exclusively trucks to receive their everyday goods. This is according to the American Transportation Research Institute.Overall, there are more than 3 million truckers in the U.S. More than 130.000 of them are based in California.
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Trucking Industry in the U.S.
The trucking industry in the U.S. represents the main source for the delivery of goods. So, it’s no surprise that the shortage of truck drivers can put the industry at risk, thus creating a number of issues as a result.
According to the ATA President Chris Spear, the trucking industry serves as a driving force for the country’s great economy. In 2018, the industry had over a 4% growth margin. Overall, the trucking industry experienced constant growth in the last few years, thus accounting for a 5.4% increase in 2018.
In 2017, the trucking industry accounted for more than 75% of the freight revenue in the country. The percentage totaled more than 7 hundred billion dollars, which was more by 3.5% than in 2016. By the way, 2017’s revenue was greater than the total GDP of Bangladesh, and a bit less than Colombia’s GDP, as the CIA Fact Book reports.
Beyond any doubt, the trucking industry must be kept thriving. After all, if you have fewer trucks on the roads, you can’t enjoy fast deliveries, and speed is everything these days. This, in its turn, will disrupt people’s lives, businesses, and the economy. So, if the issue is left in ignorance, the job shortage could drag trucking operations and deliveries to their end.
To sum up, the trucking industry plays a key role in the U.S. economy. To make the industry’s image even better, it’s critical to fill the job shortage and keep the industry thriving.