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by kennywinker
1730 days ago
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https://www.npr.org/sections/money/2021/05/25/999784202/is-t... > And according to the American Association of Motor Vehicle Administrators, state governments issue more than 450,000 new commercial driver's licenses every year. A large fraction of those drivers enter the long-haul trucking industry. > "It's just simple math," Spencer says. "If every year there are an excess of over 400,000 brand-new drivers created, how could there possibly be a shortage?" > In a 2019 study published by the U.S. Bureau of Labor Statistics, economists Stephen V. Burks and Kristen Monaco investigated claims by industry leaders that the trucking labor market was somehow "broken" enough to create a decades-long shortage. Standard economics says if you don't have enough workers, you raise wages and within a reasonable amount of time, presto, no more shortage. Is trucking somehow different? A thorough investigation led them to conclude that the trucking labor market is not different. It is not broken. Yes, they say, the trucking labor market is "tight" — meaning that companies are competing to fill open jobs — but it functions in the same way as any other labor market. |
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Where there's an entrance there's also an exit.
If there's 400,000 new commercial driver's licenses every year then how many existing commercial driver's licenses expire / die / move to a different job / whatever?