• About Us
  • Contact Us
  • Today Headline
  • Write for us
Today Headline
No Result
View All Result
  • breaking news today
    • Politics news
    • Sports
    • Science News & Society
  • Entertainment News
    • Movie
    • Gaming
  • Technology News
    • Automotive
    • Software & IT
  • Health News
    • Lifestyle
    • Insurance
  • Finance News
    • Money
  • Enterprise
  • Contact Us
  • breaking news today
    • Politics news
    • Sports
    • Science News & Society
  • Entertainment News
    • Movie
    • Gaming
  • Technology News
    • Automotive
    • Software & IT
  • Health News
    • Lifestyle
    • Insurance
  • Finance News
    • Money
  • Enterprise
  • Contact Us
No Result
View All Result
TodayHeadline
No Result
View All Result

Walmart truck drivers can now make up to $110,000 a year — that’s double what many truckers are making. Here’s what’s going on.

April 9, 2022
in Parenting
Reading Time: 3 mins read
1649500955 social – TodayHeadline


Walmart is turning heads with a pledge to pay its truck drivers up to $110,000 a year in their first year, double the salary of what some other drivers are making.

At a time when the job market is tight and consumer demand is high — the Consumer Price Index hit 7.9% in February — Walmart’s
WMT,
+0.56%
announcement is another sign of the lengths employers are going to attract and retain workers.

More specifically, it’s another potent sign of increased worker demand in the transportation sector. The question is how many potential workers will go along for the ride, at Walmart and elsewhere.

Walmart drivers previously made up to $87,500 in their first year, a Walmart spokesman told MarketWatch. Drivers for the big-box store with more than one year on the job now have the potential to earn more than $110,000, the company added.

“We are seeing historic pay increases like this industry-wide, as carriers look to recruit new drivers amid a nationwide shortage that was exacerbated by the pandemic,” American Trucking Associations spokesman Jeremy Kirkpatrick said in response to the Walmart news. “Trucking represents one of the clearest paths in today’s economy to the middle-class without the costly requirements of a college degree,” he added.

Wages are chasing inflation

Drivers with an irregular route made a median salary of more than $53,000 a year, while drivers on a private fleet — like Walmart’s operation — made an average $86,000 a year, according to a 2020 compensation survey by the American Trucking Associations.

Recent jobs report data indicates transportation and warehousing work are some of the rare sectors where wage growth is keeping up with inflation. Average hourly earnings across all jobs grew a strong 5.6%, the March jobs report showed.

The wages of the country’s 5.6 million transportation and warehousing jobs grew 7.9% year-over-year, the Bureau of Labor Statistics showed. Leisure and hospitality jobs were the only place where hourly wage growth was higher, at 11.8%.

Overall, general freight trucking has 940,600 workers, according to Bureau of Labor Statistics preliminary data. That includes short- and long-distance drivers, with the sector adding roughly 40,000 more workers compared to the same point last year.

Demand for drivers

Here’s the rub: America’s trucking industry needs another 80,000 drivers if it’s going to meet consumer demand, according to Chris Spear, president and CEO of the American Trucking Associations.

The industry is grappling with high turnover, but the trade association said it’s not because drivers are leaving the industry altogether; they’re bouncing from one company to another, eyeing better pay, routes and benefits. That job-hopping is happening all over the economy.

“We’re witnessing unprecedented pay increases across the industry,” the American Trucking Associations said in a blog post. Weekly earnings are five times the historical average and fleets are dangling “sizable, five-figure sign-on bonuses and full benefits as they all compete for the same limited pool of drivers.”

Walmart is creating a training program for prospective drivers and, in some areas, paying for the commercial driver’s license.

There are approximately 12,000 drivers already in Walmart’s fleet. Though Walmart didn’t say how many more people it’s ready to hire, the announcement makes it clear the company is in hiring mode.

“Our transportation team will continue to grow with our business, and we’ll continue to invest in them along the way,” the company said.

Walmart shares are up almost 9% year to date. The Dow Jones Industrial Average
DJIA,
+0.40%
is down 4% while the S&P 500
SPX,
-0.27%
is down approximately 5%.

  • Trending
  • Comments
  • Latest
t 10795057e28e45fa9d8f80ef01944b4a name 2023 CopCity LongerVideo.jpgw1440 – TodayHeadline

What is Cop City? The Atlanta protest and police training dispute explained.

4ce95b06 4926 4f5d b6ae 73133f427302 – TodayHeadline

Insurer Zurich experiments with ChatGPT for claims and data mining

older woman pharmacist vaccine GettyImages 1280407500 1 2 – TodayHeadline

Q&A: Why patient trust is key for burgeoning retail healthcare providers

0 Screen Shot 2021 02 05 at 141620 – TodayHeadline

Christian model dating Lil Pump and female pal spills on throuple’s sex life

hyundai ioniq 12 volt battery and frunk plastic lid – TodayHeadline

Hyundai Finds Causes For Ioniq 5’s 12V Battery Drain, Reveals Fixes

5716ea71 2f0d 4240 a873 ba6e07df457f – TodayHeadline

White House report takes aim at Bybit — and forgot about Deribit

125183558 5bfc2b8c46e0fb00517be02c – TodayHeadline

How to Open a Brokerage Account for a Child

1679709905 maxresdefault – TodayHeadline

This Week on Xbox: Lego Racing Game Revealed, Crash Team Rumble, and More Coming Soon

    PopularStories

    hyundai ioniq 12 volt battery and frunk plastic lid – TodayHeadline
    Automotive

    Hyundai Finds Causes For Ioniq 5’s 12V Battery Drain, Reveals Fixes

    5716ea71 2f0d 4240 a873 ba6e07df457f – TodayHeadline
    Money

    White House report takes aim at Bybit — and forgot about Deribit

    125183558 5bfc2b8c46e0fb00517be02c – TodayHeadline
    Finance News

    How to Open a Brokerage Account for a Child

    1679709905 maxresdefault – TodayHeadline
    Gaming

    This Week on Xbox: Lego Racing Game Revealed, Crash Team Rumble, and More Coming Soon

    About Us

    Todayheadline the independent news and topics discovery
    A home-grown and independent news and topic aggregation . displays breaking news linking to news websites all around the world.

    Follow Us

    Latest News

    hyundai ioniq 12 volt battery and frunk plastic lid – TodayHeadline

    Hyundai Finds Causes For Ioniq 5’s 12V Battery Drain, Reveals Fixes

    5716ea71 2f0d 4240 a873 ba6e07df457f – TodayHeadline

    White House report takes aim at Bybit — and forgot about Deribit

    125183558 5bfc2b8c46e0fb00517be02c – TodayHeadline

    How to Open a Brokerage Account for a Child

    hyundai ioniq 12 volt battery and frunk plastic lid – TodayHeadline

    Hyundai Finds Causes For Ioniq 5’s 12V Battery Drain, Reveals Fixes

    5716ea71 2f0d 4240 a873 ba6e07df457f – TodayHeadline

    White House report takes aim at Bybit — and forgot about Deribit

    125183558 5bfc2b8c46e0fb00517be02c – TodayHeadline

    How to Open a Brokerage Account for a Child

    • Real Estate
    • Parenting
    • Cooking
    • NFL Games On TV Today
    • Travel and Tourism
    • Home & Garden
    • Pets
    • Privacy & Policy
    • Contact
    • About

    © 2023 All rights are reserved Today headline

    No Result
    View All Result
    • Real Estate
    • Parenting
    • Cooking
    • NFL Games On TV Today
    • Travel and Tourism
    • Home & Garden
    • Pets
    • Privacy & Policy
    • Contact
    • About

    © 2023 All rights are reserved Today headline

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.