2015 Trucking Industry Outlook
The Canadian Economy has been going strong for the past few years (particularly in the West, where energy companies have been experiencing unprecedented growth), but there’s no getting around it – the near collapse of the US economy in 2008 has had an impact on the trucking industry.Between the American economic crisis, and the strength of the Canadian dollar, volume of shipments to the United States fell by nearly 30 percent, which caused significant hardship to Canadian truckers.In 2015, we may hit the turnaround point. According to RBC Capital Markets, the industry is expecting demand to overtake supply in the upcoming months, which means good times for carriers and an improved outlook for the industry going forward.
The Canadian Trucking Alliance agrees. “It’s approaching our time.” Said President David Bradley in a recent CTV interview. He describes the recover as 90-95 percent complete. Low fuel prices, and a slightly lower value of the Canadian dollar may hasten the process in the coming months.As for the job outlook in the industry, we’re still expecting there to be plenty of demand for drivers over the next decade. According to a Conference Board of Canada study, there is expected to be a shortfall of 30,000 truck drivers in the next five years, as older drivers retire with a shortage of candidates waiting in the wings.
This increased demand means increased opportunity and better pay for those choosing to enter the industry now.If you’re considering a career in the road freight industry, you owe it to yourself to find out if it’s the career for you by consulting the professionals at First Class Training Centre. As Winnipeg’s premiere Truck Driving School, we use our decades of experience on the road to prepare our students for all aspects of the business. Contact us online or call Toll Free 1-(855) 632-5302.