DENVER — Two thirds of fleet managers interviewed expect driver wages to increases between 1 and 5 percent, reports Transport Capital Partners in its recently released Second Quarter Business Expectations Survey.

"The responses were skewed to a higher level with 28 percent saying rates would increase more than five percent this quarter compared to only 12 percent expected over 5 percent in the prior quarter," said Richard Mikes, TCP partner and survey founder.

Seven percent anticipate wage rates would remain unchanged, as the reality of parked trucks without drivers became more commonplace, according to TCP.

A higher share of larger carriers (over $25 million in revenue) reported expectations of increases beyond five percent compared to smaller carriers (30% to 22%).

"The larger carriers apparently are feeling the pressure first as the driver pendulum is swinging to the more typical levels of this phase of the supply demand cycle and truck capacity is tightening both because of lack of equipment as well as now drivers," said Mikes.

Over 70 percent on respondents said that driver wages need to in range between $50,000 to $70 before the industry can attract and retain good drivers.

Mikes noted that a mounting driver shortage can no longer be left out of the industry capacity and underlying cost structure discussions on potential rates in the years ahead.