A joint pay index surged 13.5% in two months, reflecting tight labor conditions and rising freight demand in the trucking sector.
A closely tracked index of truck driver pay reached an all-time high of 170.04 in June, up 13.5% from April, according to data from AscendTMS and Superior Trucking Payroll Services. The index, which uses a January 2020 baseline of 100, had dipped to a post-pandemic low of 115.9 in January 2024 before rebounding sharply in recent months.
The index hit a cyclical low of 132.18 in September 2024 before climbing to 144.18 by January 2024. The surge aligns with broader evidence of rising driver compensation amid persistent labor shortages and strong freight demand. The data had previously been shared privately but was recently publicized due to its rapid ascent.
The increase underscores tightening conditions in the trucking labor market, which could pressure logistics costs and broader inflation metrics. The index is calculated monthly and reflects pay trends across the industry.