The Weekly Report brings you updates on the most important driver recruiting metrics each and every week. In addition to updated click, search and rates, we cover a new story of the week. This week’s story – Experts don’t think driverless trucks will make an impact for at least two decades.
New episodes of the Weekly Report premiere every Wednesday at 10 AM CT on our YouTube channel and blog page.
We provide the Weekly Report in numerous formats every week. Which one is right for you? Watch the latest reports on our Recruiting Resources or YouTube pages, use our Numbers at a Glance section for quick visual references, download the Weekly Report PDF (available below), read the transcript, or listen to the audio version of the October 20, 2021, Weekly Report below.
Numbers At A Glance – October 20, 2021
Truck Driver Searches
|WoW: ∇ Down 11%|
|MoM: ∇ Down 26%|
|YoY: ∇ Down 26%|
|WoW: ∇ Down 1%
Volume by Segment
|WoW: Dry Van ≡ Flat|
|WoW: Refrigerated ∇ Down 1%|
|WoW: Flatbed ∇ Down 2%|
Clicks On Driver Postings
|WoW: Δ Up 5%|
|MoM: Δ Up12%|
|YoY: Δ Up 55%
|WoW: Δ Up 3%|
|WoW: ∇ Down 1¢ per mile|
Rates by Segment
|WoW: Dry Van ∇ Down 6¢ per mile|
|WoW: Refrigerated Δ Up 6¢ per mile|
|WoW: Flatbed ∇ Down 1¢ per mile|
October 20, 2021, Driver Recruiting Insights
Would you like to have your own copy of the trucking industry data? All of the information covered in this week’s report for October 20, 2021, is available for your convenience in PDF form below.
Click the image to download October 20, 2021 Driver Recruiting Insights PDF.
Weekly Report – October 20, 2021 Transcript
Hello everyone and welcome to the Weekly Report. For Randall-Reilly I’m Joshua Miller. We have all the up-to-date driver recruiting data for you as well as a brand-new story of the week, so let’s not waste any time.
THIS WEEK IN JOB BOARD SEARCHES AND CLICKS
Truck driver searches were down 11% WoW, 26% MoM, and 26% YoY. Clicks on driver postings were up 5% WoW, 12% MoM, and 55% YoY.
Searches continued to decline while click rate was once again on the rise. This suggests that while fewer drivers are searching, those drivers who have been searching have a greater intent and are clicking on more postings. And that increase in click activity last week resulted in the highest click level since April of 2020.
THIS WEEK IN FREIGHT
Load posting volume was down 1% WoW. Dry van remained flat, while flatbed postings fell by 2%, and refrigerated postings were down by 1% WoW.
Last week saw the lowest load-to-truck ratio since late January and resulted in a 3% WoW increase for truck availability on the spot market.
Spot rates dipped by 1¢ WoW, with both dry and flatbed rates declining. Dry van was down 6¢ while flatbed was only down 1¢. Refrigerated rates, however increased by 6¢ per mile WoW.
NOW FOR THE STORY OF THE WEEK
Despite millions of dollars being spent and countless man hours being invested, industry experts say driverless trucks are nevertheless likely decades away.
They are speaking of Level 5 capable trucks specifically when making this claim. (Trucks capable of operation with no driver in the cab at all.)
Thom Albrecht, CFO and Chief Revenue Officer of Reliance Partners Insurance goes as far as to say driverless trucks won’t happen any time within the next 20 years.
He reasons pilots are still needed for planes and conductors still man trains, so he expects the same to hold true for trucks even as they continue to develop and become more autonomous.
Autonomous trucks have long been touted as a solution for fleets struggling to recruit and retain drivers; but many in the industry feel that the constant talk and speculation is actually having a detrimental effect on recruiting in the here and now.
Many who would consider becoming a truck driver are now concerned about entering an industry where they feel the threat of being replaced is imminent.
However, J.B. Hunt Senior Vice President of Corporate Safety, Security and Driver Personnel, Greer Woodruff, feels that “any driver that’s in the industry today, or any new entrants into the next decade, will be able to retire as a truck driver.”
That’s all we have for this week, thanks for joining us and don’t forget to come back and see us next week. New Weekly Reports cover all the previous weeks’ vital recruiting data and are released on our blog and YouTube channel every Wednesday morning at 11am Eastern /10am Central. Until then have a great week everybody.