WEBVTT - Truckers Are Aging Out. Who Will Replace Them?

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>Late this past summer, Bloomberg retail reporter Jaywon Kang flew

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<v Speaker 2>to Anchorage, Alaska, got in a truck and headed south

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<v Speaker 2>toward Kenai.

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<v Speaker 1>You're surrounded by these really majestic mountains, and it was summer,

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<v Speaker 1>but you could still kind of see like snow on

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<v Speaker 1>the tip of the mountains. It was sort of the

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<v Speaker 1>calm before the storm, because you know, a few months

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<v Speaker 1>after that trip, the weather would have started getting pretty harsh.

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<v Speaker 3>Yes, hair will turn into pig cheeks of mines.

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<v Speaker 2>Jaywan was riding Shaka and the driver's seat next to

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<v Speaker 2>her there was a trucker named Leslie Scott.

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<v Speaker 3>Do you see those mountains.

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<v Speaker 4>It's pretty mellow right now, but sometimes it could be

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<v Speaker 4>pretty treacherous.

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<v Speaker 2>Leslie has been driving trucks for nearly a decade. For

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<v Speaker 2>the past few years, she's driven with a partner, Michelle Saliki.

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<v Speaker 2>They call themselves Belma and Luise. They even have a

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<v Speaker 2>shared TikTok account.

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<v Speaker 3>Okay, Michelle making video does a breakfast good I'd go

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<v Speaker 3>there are you? Even though Lesslie makes me walk a mile.

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<v Speaker 2>Leslie and Michelle don't fit the typical truck driver profile.

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<v Speaker 2>More than ninety percent of truck drivers in the US

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<v Speaker 2>are met, according to the Bureau of Labor Statistics.

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<v Speaker 3>A lot of drivers still will say, oh, are you

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<v Speaker 3>driving with your husband? They're shocked to the Seer team

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<v Speaker 3>women out here, especially.

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<v Speaker 2>Right Leslie is fifty eight, Michelle is sixty nine. The

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<v Speaker 2>median age for a truck driver in the US is

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<v Speaker 2>about forty five. Leslie and Michelle drive for Walmart, and

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<v Speaker 2>right now the company is making an effort to recruit

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<v Speaker 2>more drivers because the trucking industry is at a critical

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<v Speaker 2>juncture and the decisions its biggest players make now could

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<v Speaker 2>affect their ability to meet the increasingly insatiable demand of

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<v Speaker 2>American shoppers in the years to come.

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<v Speaker 1>The current workforce a lot of people will probably start

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<v Speaker 1>retiring within the next ten years or so roughly, and

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<v Speaker 1>so the big question is do we have enough people

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<v Speaker 1>who can replace those people who are going to be

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<v Speaker 1>leaving the workforce.

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<v Speaker 2>I'm Sarah Holder, and this is the big take from

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<v Speaker 2>Bloomberg News Today on the show, the US trucking industry

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<v Speaker 2>at a crossroads. An aging workforce, chronically high turnover, long hours,

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<v Speaker 2>and inconsistent pay. How Walmart is trying to change trucking

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<v Speaker 2>to appeal to people who might not otherwise find themselves

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<v Speaker 2>behind the wheel. If you've ordered anything to be delivered

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<v Speaker 2>this holiday season, or even bought something in a store,

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<v Speaker 2>there's a good chance it got to your doorstep or

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<v Speaker 2>onto those shelves because of a truck driver.

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<v Speaker 1>The job of being a truck driver is really important

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<v Speaker 1>in this country. I mean, you know, it's estimated that

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<v Speaker 1>about seventy percent of freight is handled by commercial truck drivers.

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<v Speaker 2>According to the shipping firm Pitney Boats, eleven and a

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<v Speaker 2>half billion parcels were shipped in the US back in

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<v Speaker 2>twenty sixteen. By twenty twenty four, that had nearly doubled

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<v Speaker 2>to more than twenty two billion parcels. And moving all

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<v Speaker 2>those packages across the country isn't easy.

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<v Speaker 1>It's a really tough job. I mean, generally speaking, you're

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<v Speaker 1>spending hours every day driving. You're spending days away from

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<v Speaker 1>your loved ones, sometimes spending weeks away from your home.

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<v Speaker 1>Depending on who you work for, you might be asked

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<v Speaker 1>to help unload and load all the goods in that truck.

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<v Speaker 1>So that's physically demanding.

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<v Speaker 5>It's one of the hottest jobs I've evid done in

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<v Speaker 5>my life.

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<v Speaker 2>That's Dean Krok. Today he works as an animals at

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<v Speaker 2>DAT Freight and Analytics, but before that he spent years

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<v Speaker 2>as a driver in Australia before moving to the US

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<v Speaker 2>in nineteen ninety eight.

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<v Speaker 5>You've got to be able to handle being on your own,

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<v Speaker 5>so there's the mental aspect of it, and as you

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<v Speaker 5>get older, you become less tolerant to the extreme cold

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<v Speaker 5>or the extreme physical activity.

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<v Speaker 2>And the trucking industry can be volatile. It's prone to

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<v Speaker 2>booms and busts. One of the booms came during the pandemic.

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<v Speaker 2>Online sales shot up and the number of trucking carriers

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<v Speaker 2>rose to fill that.

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<v Speaker 5>Need, and then demand fell away, so those trucks had

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<v Speaker 5>to do something. I created this over supply of trucks

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<v Speaker 5>on the road and they competed for less freight and

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<v Speaker 5>it drove freight rates down.

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<v Speaker 2>Dean says, we've been in a freight recession for the

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<v Speaker 2>last three to four years.

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<v Speaker 5>And now we're starting to see bankruptcy start to rise

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<v Speaker 5>and turnover levels start to increase, driver pay levels of

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<v Speaker 5>starting to decline, so we're at the bottom of the market.

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<v Speaker 6>There's a lot of people who operate this when it's

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<v Speaker 6>economically viable, and otherwise they'll just park it and do

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<v Speaker 6>something else.

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<v Speaker 2>Chris Kaplis runs the Center for Transportation and Logistics at

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<v Speaker 2>MIT and founded MIT's Freight Lab, which.

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<v Speaker 6>Looks specifically how companies, shippers, truckers, transportation providers, carriers, and

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<v Speaker 6>brokers can all work together.

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<v Speaker 2>Chris says that for all these industry players, driver retention

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<v Speaker 2>is a big issue.

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<v Speaker 6>Turnover is pretty high. Sometimes for a lot of carriers

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<v Speaker 6>it's one hundred percent. Doesn't mean that every driver leaves,

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<v Speaker 6>but you have some that leave in much shorter periods

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<v Speaker 6>of time.

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<v Speaker 2>That means you might be going through multiple drivers in

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<v Speaker 2>one position, even if others stay on. That's expensive for carriers.

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<v Speaker 2>Chris says one reason for the high turnover is how

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<v Speaker 2>drivers are paid.

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<v Speaker 6>Drivers typically only get paid when they're hauling loaded miles.

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<v Speaker 6>The empty miles are when they're going to position to

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<v Speaker 6>pick up a load, and so if you get delayed

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<v Speaker 6>for loading, you might get pushed two or three hours.

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<v Speaker 6>That pushes off everything that you have down the line.

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<v Speaker 6>So the real challenge is that the driver pays that

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<v Speaker 6>price because they can't make up that time.

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<v Speaker 2>In twenty thirteen, the government capped how long drivers can

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<v Speaker 2>be on the clock during an average week at seventy

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<v Speaker 2>hours each day. They can work fourteen hours, only eleven

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<v Speaker 2>of which can be spent driving, and most drivers don't

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<v Speaker 2>get paid for the time they spend on the loading dock,

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<v Speaker 2>So if drivers spend too many hours waiting around without pay,

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<v Speaker 2>that means fewer paid hours on the road.

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<v Speaker 5>You have no idea how soul destroying sitting.

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<v Speaker 2>Around waiting is Dean crok Again.

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<v Speaker 5>I probably spend a third of my working life sitting

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<v Speaker 5>on ship a loading docks, waiting to get loaded and unloaded,

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<v Speaker 5>and losing thousands and thousands of dollars in the process.

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<v Speaker 2>All that leads to a really unpredictable schedule, which makes

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<v Speaker 2>the job a tough sell, especially for people with families.

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<v Speaker 5>One of the things that drives drivers absolutely insane is

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<v Speaker 5>not having consistent start and finish times like One of

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<v Speaker 5>the things we found that increased driver turnover rates, like

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<v Speaker 5>as in quitting, was when drivers didn't get home when

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<v Speaker 5>they were promised. You could be stuck in traffic and

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<v Speaker 5>not get home for an hour later, and that's very

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<v Speaker 5>difficult if you've got childcare and you have to pick

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<v Speaker 5>up someone at four PM. Really difficult industry to work

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<v Speaker 5>around those fixed deadlines.

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<v Speaker 2>Even for truckers who do get more consistent hours, the

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<v Speaker 2>days can get really long.

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<v Speaker 5>As a primary care a twelve hour day just doesn't work.

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<v Speaker 5>I need someone to look after my children. Whether I'm

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<v Speaker 5>male or female like that, It's a really difficult industry

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<v Speaker 5>to work in, even if I'm going to be home

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<v Speaker 5>every night.

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<v Speaker 2>Then there are the challenges that disproportionately affect women drivers.

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<v Speaker 2>Here's Bloomberg's j One King.

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<v Speaker 1>There are dangers on the road if you're driving alone,

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<v Speaker 1>you know, risks of sexual harassment, and so that's kind

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<v Speaker 1>of deterred women from entering this job.

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<v Speaker 2>So how are companies like Walmart trying to recruit the

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<v Speaker 2>next generation of drivers before the current workforce retires. That's

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<v Speaker 2>coming up. When Leslie Scott decided to become a truck driver,

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<v Speaker 2>she knew she wanted to drive for Walmart. They paid

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<v Speaker 2>the best, They paid the best. Walmart started to anticipate

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<v Speaker 2>a truck and crunch more than a decade ago, when

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<v Speaker 2>those new caps on driver hours were introduced. To get

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<v Speaker 2>ahead of it, the company ramped up its recruitment and

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<v Speaker 2>retention efforts for its private fleet. In twenty twenty three,

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<v Speaker 2>it launched something called the Associate to Driver Program. Here's

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<v Speaker 2>Bloomberg's jaywon King.

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<v Speaker 1>They're basically tapping their existing employees who you know, work

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<v Speaker 1>at their stores or on the front lines and training

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<v Speaker 1>them to become truck drivers by covering the costs associated

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<v Speaker 1>with you know, learning and getting the you know, the

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<v Speaker 1>commercial driver's licenses, which you know cost thousands of dollars.

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<v Speaker 1>And already about half of their new drivers come through

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<v Speaker 1>that program, and they, you know, that that's something that

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<v Speaker 1>they want to keep investing in. To build their pipeline.

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<v Speaker 2>Walmart has given its drivers more predictable schedules and Wi

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<v Speaker 2>Fi equipped trucks. For safety, it pairs up drivers on

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<v Speaker 2>its most treacherous routes, like the one in Alaska that

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<v Speaker 2>Leslie and Michelle drive. Leslie and Michelle both earn about

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<v Speaker 2>one hundred and thirty five thousand dollars a year. That's

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<v Speaker 2>about twice what a typical US trucker makes. Here's Leslie

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<v Speaker 2>this kay.

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<v Speaker 3>Sliving w I can support my family capture with the

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<v Speaker 3>amount of line that I've.

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<v Speaker 2>Man, Leslie says. The job still ha its challenges, especially

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<v Speaker 2>on the Alaska route she's driving. She's encountered hungry bears

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<v Speaker 2>on the road, faced extreme weather and dangerous winds, and

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<v Speaker 2>had to deal with the constraints of her schedule.

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<v Speaker 3>It took me two years to get a mamogram.

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<v Speaker 2>The sedentary nature of the work has taken a toll too.

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<v Speaker 2>Since she started driving, Leslie gained seventy pounds and had

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<v Speaker 2>to have bariatric surgery last year. Still, having Michelle as

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<v Speaker 2>her driving partner makes Leslie feel more secure on the road.

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<v Speaker 2>Leslie also says she feels a lot of job security.

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<v Speaker 2>This is the first job where she feels like if

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<v Speaker 2>she were to quit, she'd have another offer in no time.

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<v Speaker 2>Leslie just loves what she does, and she thinks the

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<v Speaker 2>trucking industry as a whole could do more to bring

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<v Speaker 2>other women on board.

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<v Speaker 3>I think maybe.

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<v Speaker 4>Too enties for women to do this, especially in my

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<v Speaker 4>age group, because we are the free ones. Most of

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<v Speaker 4>us have rates for children, and we're also proven fact

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<v Speaker 4>to be a safer once we're more cautious, you know,

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<v Speaker 4>they say we.

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<v Speaker 3>Don't have big accidents. Get all the brands out here.

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<v Speaker 3>That's my mom truck. Wellcome, thanks the world.

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<v Speaker 5>The real.

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<v Speaker 2>Today about eighteen percent of Walmart's truckers or women, according

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<v Speaker 2>to an estimate from the data firm Revellia Lapse. That's

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<v Speaker 2>nearly double the rate of competitors. But high pay isn't

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<v Speaker 2>enough to combat some of the other factors keeping women

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<v Speaker 2>out of the industry, like the long and often unusual hours. Leslie,

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<v Speaker 2>for example, was actually always interested in becoming a trucker,

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<v Speaker 2>but it took until her kids were out of the

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<v Speaker 2>house for her to feel like she could make it work.

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<v Speaker 2>I asked Dean Krok, the analyst for DAT Freight and Analytics,

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<v Speaker 2>how the industry overall is doing with recruiting women and

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<v Speaker 2>younger drivers. He said, there have been some improvements, some

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<v Speaker 2>redesigning of how trucking works.

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<v Speaker 5>We are doing better. So the pandemic drove a lot

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<v Speaker 5>more warehouses closer to urban populations. So when we were

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<v Speaker 5>at home during the pandemic ordering things overnight, that drew

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<v Speaker 5>a lot more warehouses that staged our freight closer to us.

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<v Speaker 5>So what that created was a lot more deliveries in

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<v Speaker 5>smaller vehicles closer to our homes. That created a whole

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<v Speaker 5>new set of jobs.

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<v Speaker 2>Some of those are gig economy jobs. People using their

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<v Speaker 2>own vehicles to drop packages on doorsteps in the middle

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<v Speaker 2>of the night.

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<v Speaker 5>But there's been a whole new economy around small box

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<v Speaker 5>trucks and straight trucks and smaller vehicles delivering freight in

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<v Speaker 5>that sort of maybe one hundred mile radius. So there's

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<v Speaker 5>a lot of growth in that particular market. There's also

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<v Speaker 5>a lot of growth in what I called daycab work.

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<v Speaker 5>So what the industry is doing a lot more of,

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<v Speaker 5>and what it can do more of is make vehicles

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<v Speaker 5>and jobs and routes and freight networks more conducive to

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<v Speaker 5>jobs that get drivers home every night.

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<v Speaker 2>But at the end of the day, Dean says, making

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<v Speaker 2>this job appeal to more people comes down to changing

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<v Speaker 2>how a majority of drivers are paid, offering annual guaranteed

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<v Speaker 2>salaries as opposed to the hourly per mile and activity

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<v Speaker 2>rates that companies like Walmer use.

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<v Speaker 5>So it doesn't matter how long you spend on a

0:13:20.400 --> 0:13:22.480
<v Speaker 5>loading dock, you're paid by the salary, you're paid by

0:13:22.480 --> 0:13:24.839
<v Speaker 5>the yow, or paid by the year. So one of

0:13:24.880 --> 0:13:27.200
<v Speaker 5>the challenges they've got here is drivers have to be

0:13:27.240 --> 0:13:29.640
<v Speaker 5>paid for the time they spend on the job. So

0:13:29.720 --> 0:13:32.679
<v Speaker 5>to attract the new generation of drivers to the industry,

0:13:33.200 --> 0:13:35.800
<v Speaker 5>they have to find a way to pay them for

0:13:35.880 --> 0:13:37.439
<v Speaker 5>their time and services.

0:13:37.880 --> 0:13:42.720
<v Speaker 2>In the meantime, new autonomous technologies could transform the nature

0:13:42.720 --> 0:13:43.200
<v Speaker 2>of the job.

0:13:43.600 --> 0:13:47.040
<v Speaker 5>I think what you'll see is that trucking will become different.

0:13:47.120 --> 0:13:49.840
<v Speaker 5>Technology I think will help bridge the gap. Instead of

0:13:49.880 --> 0:13:52.839
<v Speaker 5>me trying to stay awake between midnight and six, technology

0:13:52.880 --> 0:13:55.760
<v Speaker 5>will take over and I'll assist me through that worst

0:13:55.840 --> 0:13:57.920
<v Speaker 5>period of the night. If you think about a current

0:13:57.960 --> 0:14:01.120
<v Speaker 5>truck driver, you have an autonomous vehicle going along into

0:14:01.120 --> 0:14:04.240
<v Speaker 5>State forty out near Laramie, and it has a flat tire,

0:14:04.800 --> 0:14:07.760
<v Speaker 5>someone's got to put the warning triangles out. If you've

0:14:07.800 --> 0:14:11.240
<v Speaker 5>got somebody that's in the vehicle doing the other duties,

0:14:11.559 --> 0:14:14.800
<v Speaker 5>I could see that defraying some of the costs of

0:14:15.400 --> 0:14:19.520
<v Speaker 5>the driver. But that person's also doing other paperwork, triaging

0:14:19.600 --> 0:14:21.320
<v Speaker 5>things that might get wrong in the vehicle. So I

0:14:21.320 --> 0:14:24.360
<v Speaker 5>think that's where we might land with a hybrid type driver.

0:14:26.440 --> 0:14:30.480
<v Speaker 2>As the trucking industry confronts these coming changes, Leslie Scott

0:14:30.560 --> 0:14:33.480
<v Speaker 2>is about to embark on her own next chapter. Her

0:14:33.560 --> 0:14:37.080
<v Speaker 2>driving partner, Michelle, is planning to retire shortly after she

0:14:37.160 --> 0:14:38.640
<v Speaker 2>turned seventy next year.

0:14:39.000 --> 0:14:42.520
<v Speaker 3>And my therapist asked me, where's your safe space in

0:14:42.560 --> 0:14:45.680
<v Speaker 3>your life? And I said it or not. Cab of

0:14:45.760 --> 0:14:48.160
<v Speaker 3>the truck in Alaska's my safe space.

0:14:48.280 --> 0:14:48.520
<v Speaker 2>Yeah.

0:14:48.720 --> 0:14:52.120
<v Speaker 3>When I close is Curtain's pie. Because of her, I

0:14:52.160 --> 0:14:55.080
<v Speaker 3>don't think about what's out here. Yeah, because I know.

0:14:55.320 --> 0:14:59.560
<v Speaker 2>She's gotten Thelma will be looking for a new Luise.

0:15:03.720 --> 0:15:06.680
<v Speaker 2>This is the Big Take from Bloomberg News. I'm Sarah Holder.

0:15:07.040 --> 0:15:09.680
<v Speaker 2>To get more from the Big Take and unlimited access

0:15:09.720 --> 0:15:13.560
<v Speaker 2>to all of bloomberg dot com, subscribe today at Bloomberg

0:15:13.600 --> 0:15:17.680
<v Speaker 2>dot com slash podcast offer. Thanks for listening. We'll be

0:15:17.720 --> 0:15:18.320
<v Speaker 2>back tomorrow