The Truck Driver Pay Index, jointly calculated by AscendTMS and Superior Trucking Payroll Services, surged to an all-time high of 170.04 in June, a 13.5% increase in just two months. The index, which tracks pay for employee drivers and excludes independent contractors and management, was set at a January 2020 baseline of 100 and had previously peaked at 141.9 in January 2023 before falling to a post-pandemic low of 115.9 in January 2024. The recent jump from 150.83 in April to 170.04 in June marks the largest two-month gain in the index's history, according to Superior president Mike Ritzema. Ritzema noted that driver pay typically lags spot freight rates by four to six months, suggesting further increases may be ahead, while AscendTMS CEO Tim Higham attributed the surge to a shortage of legally compliant drivers leaving trucks idle.
The index surge indicates strong demand for trucking services, benefiting AscendTMS as a provider of trucking management software.
The index surge indicates strong demand for trucking services, benefiting Superior Trucking Payroll Services as a payroll provider for the industry.