The United States has one of the strongest economies in the world and much of its rigor is powered by its incredible logistical network that allows goods to be transported across the nation rapidly and efficiently. After the creation of the interstate system in the 40s and 50s, the trucking industry took hold on the nation by creating thousands of jobs and providing the means for reliable transportation. The United States economy depends on the stability and dependability of its transportation system.
Money Talk
Money is on everyone’s mind. It is even more salient to economists who have analyzed the United States economy. With a quick look at the statistics, one can see that trucking is big. It takes up over 70% of the transportation industry, and recently, yearly revenue has exceeded $800 billion through completed deliveries. That’s over 11.5 billion tons of cargo each year, according to TheTrucker.com. Beyond the direct economic impact lies the impact of stores and distributors selling the goods that were transported. CFS reports that as of 2017, 71.6% of goods in the United States were transported on a truck before reaching their points of civilian distribution.
Impactful Industry
The trucking industry touches many different aspects of American life, from groceries, pharmaceuticals, household goods, to cars and building materials. America truly runs on trucking. The economic impacts of trucking are also able to be quantified in terms of employment. Trucking is a great career for many people, and there are drivers on the road today from nearly every walk of life. Trucking used to be a career predominately reserved for men, but now anybody can have a successful career driving!
In fact, there are around 3.36 million drivers on the road in the United States today, of this number, about 6% are female drivers, but this number is increasing yearly! Additionally, nearly 10% of drivers are veterans who have found fulfilling careers after serving the United States in the Military. Professional drivers make on average over $60,000 per year, which is nearly twice the national average income according to Census estimates. This access to a lucrative career is great for the economy because it means drivers are self-sufficient and able to purchase and invest in what they need.
Run the World
The transportation industry is one of the driving forces of the global economy. The presence of an interconnected network of supply, demand, and transit allows a free flow of capital that can instill economic growth. Trucking is a major part of this network, especially in larger nations like the United States. As we continue in time, it is expected there will be more need for drivers as the trucking industry is expected to grow. The zenith of the economic impact of trucking is yet to be seen.
Final Thoughts
Drivers are the lifeblood of the United States and its economic power. The incredible logistical system that allows goods to be transported from pickup to drop-off is part of what makes the United States such a wonderful place to live, and drivers are the most important piece of the economic puzzle. The economy is still recovering after the pandemic, but it is already looking like it will reach even greater heights than before and drivers will be crucial in building it up!