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VIDEO: The “driver shortage” explained as a driver turnover, pay problem

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Owner-Operator Independent Drivers Association President Todd Spencer appeared on Fox Business to set the record straight about the American “truck driver shortage.”

Mainstream media outlets have been pumping out hundreds of articles recently warning that a “truck driver shortage” could have negative repercussions on the U.S. economy, driving up the cost of goods and causing shipping delays.

In a segment that aired on Fox Business, OOIDA’s Spencer explains that the perceived driver shortage is really a problem of retention caused by low pay. Spencer points out that many trucking companies offer drivers enough pay to get them to take a job but not enough to make them stay at a job. He also goes into how current pay structures work against drivers.

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