COVID-19 has affected every aspect of business during 2020. Some markets have been able to see a full recovery, while others are still struggling to reopen. The trucking industry initially saw an annual turnover rate drastically decrease in the second quarter. CDL life stated in an article, ?The second quarter was a tumultuous one for trucking, and the broader economy, as restrictions imposed to slow the spread of COVID-19 had significant impacts on the country.? (CDL) The fear of spreading COVID-19 through travel had an immediate effect on the trucking industry. After several months of recovery, the freight economy is almost back to normal. Drivers and trucking companies can operate again after various restrictions were lifted. The current cost per mile has increased since April of 2020, leaving carriers and truck drivers extremely satisfied. The article stated, ?Over-the-road carriers are enjoying a period of volume growth and pricing power that would have been considered shocking, though welcomed, from an April 2020 vantage point.? (CDL) Despite the events of 2020, the trucking industry has shown incredible determination to keep the freight economy afloat. While many other markets are still struggling the freight and trucking industry is prospering under these unsatisfactory circumstances.
Sierra Alley, et al. “Trucking Industry on Fast Track to Recovery after Driver Turnover Plummeted amid COVID-19.” CDLLife, 25 Sept. 2020