Trucking company Knight-Swift has recently announced a driver pay increase. This is the largest increase among trucking companies during the last period.
Knight-Swift said that experienced drivers will be able to earn more than 50 cents per mile. Depending on the part of the country in which the job is located, the starting salary can be 60 cents per mile. Also, driver experience affects the salary.
For independent contractors, contract rates will be increased to 5 cents per mile, depending on the line of business.
According to the company, it was “a multiple pay increases and benefits over the last six months.”
Amit Mehrotra’s transportation research group recently stated in the report that the freight market is strong enough to companies to increase salary without financial damage.
Meanwhile, despite the growth in the cargo transportation industry, the level of employment in the field of cargo transportation has not shown significant growth over the past five years, according to BLS data.