This data was taken from the Bureau of Labor Statistics.
The median annual wage for truck drivers (including short-distance retail delivery drivers). This data has been adjusted for inflation, all dollar amounts are shown in 2021 value of USD.
Key Insights:
In 1980, the median annual wage for delivery truck drivers was $52,730 in 2021 dollars.
The median annual wage increased to $80,113 in 2018, but this still represented a decline in purchasing power when adjusted for inflation.
The median annual wage for delivery truck drivers has generally increased over time, but not at a rate that keeps up with inflation.
This erosion of purchasing power may contribute to the high turnover rate among retail truck drivers, as they may seek higher-paying jobs or better opportunities for advancement.
So why have driver wages not kept up with the median wages across the US?
1. Competition:
Retail companies that rely on delivery truck drivers face intense competition and may be hesitant to increase wages due to concerns about maintaining profitability and competing with other companies. This can lead to a reluctance to raise wages and a lack of investment in the workforce.
2. Cost pressures:
Retail companies that rely on delivery truck drivers also face cost pressures from factors such as fuel prices, maintenance costs, and insurance premiums. These cost pressures may limit the ability of companies to increase wages for drivers.
3. Technological changes:
Technological changes in the retail industry have led to increased automation and the use of self-driving delivery vehicles. This may reduce the demand for human drivers and contribute to a lack of investment in the workforce.
4. Regulation:
Regulations governing the retail industry and the trucking industry may also limit the ability of companies to increase wages. For example, regulations governing driver hours and working conditions may lead to higher costs for companies and limit their ability to raise wages.
Overall, these factors contribute to a difficult operating environment for retail companies and may limit their ability to invest in their workforce and raise wages for delivery truck drivers. This, in turn, may contribute to the high turnover rate among retail truck drivers.