Trucking In 2011

Trucking has certainly seen its ups and downs the last few years. So, where is trucking headed in 2011? Let’s take a look at the current situation and what is coming up. 

The trucking industry often sees exaggerated highs and lows in light of economic conditions. The Great Recession had an effect on the trucking industry akin to Thor’s hammer smashing a peanut. It wasn’t pretty and there wasn’t much left after the act. 

Surprisingly, things started turning around in a big way in 2010. Whereas the rest of the economy was still in full doom and gloom mode, the freight industry started picking up big time. The massive number of drivers who had lost their jobs in the dark days of 2009 suddenly found an abundance of opportunity on the road. 

Given the wild swings of 2008 through 2010, one can be forgiven for wondering what is coming next in 2011. The truth of the matter is the year is shaping up to be a fairly stable one. In fact, jobs should continue to become available and growth should be strong for those trucking companies that made it through the last few years.

Could we see a downswing in 2011? Sure. There are really two things that could happen that could whack the trucking industry in the knees like a Soprano with a bat. The first would be if we had a double dip recession. This seems unlikely at this point even though the economy isn’t exactly humming. 

The second potential problem would be fuel prices. The Joint Chiefs of Staff recently released a report noting oil prices could be under pressure starting in 2012 and definitely by 2015. If such pressures appear in 2011, things could get a bit hairy. 

Ultimately, 2011 appears to be shaping up as a good time for the trucking industry. Beyond that is anyone’s guess.