Why America’s Trucking Industry Is Struggling: The Harsh Reality Behind Low Freight Rates

The U.S. trucking industry, often called the backbone of America’s economy, is going through one of its most difficult periods in recent history. Truckers across the country are voicing the same concern: rates per mile have fallen so low that many can barely keep their businesses afloat.

So, what exactly is behind this downturn, and why has life on the road become so financially challenging? Let’s break it down.

Supply Outpacing Demand

The pandemic years created a surge in freight demand. Many new trucking companies and independent owner-operators entered the market to take advantage of high rates. Fast forward to today, demand has slowed, but the number of trucks on the road remains high. Too many trucks are chasing too few loads, pushing rates down.

Rising Operating Costs

While rates are dropping, the costs of running a truck are climbing. Fuel remains volatile, maintenance expenses continue to rise, and insurance premiums are higher than ever. Truckers are finding themselves squeezed from both sides: spending more to stay on the road while earning less per mile.

The Role of Brokers

Another point of frustration for many carriers is how freight rates are distributed. Brokers, who connect shippers with truckers, often take a significant cut. In a weak freight market, their margins can further reduce what lands in a driver’s pocket. Many truckers feel the balance of power is tilted against them.

Inflation and Consumer Spending

Broader economic forces are also at play. Inflation has impacted consumer spending habits, leading to fewer goods moving across supply chains. When retail slows down, trucking slows with it. This ripple effect contributes directly to the lack of high-paying freight opportunities.

Global Trade Shifts

Uncertainty in international shipping, including disruptions at ports and changing import/export volumes, has also reshaped freight flows. Some regions are seeing freight dry up altogether, leaving drivers with longer deadhead miles just to find their next load.

Technology and Larger Fleets

Big carriers with advanced logistics systems can operate on thinner margins, leaving smaller independent truckers at a disadvantage. Technology-driven efficiencies help major fleets survive downturns, while one-truck operators struggle to compete.

The Human Cost

Behind the numbers are people—hardworking drivers spending long hours away from home, only to return with shrinking paychecks. For many, the dream of independence in trucking has turned into a constant fight for survival.

What Lies Ahead

Experts suggest that the market may eventually correct itself. Some small carriers will exit the industry, reducing capacity and balancing supply with demand. Until then, truckers continue to face one of the toughest seasons the industry has seen in years.

The American trucking industry has always been resilient. But right now, resilience is being tested, mile after mile, on highways across the nation.

Standing With Truckers

The road ahead may be uncertain, but what remains constant is the resilience of America’s truckers. Their dedication keeps goods moving and communities supplied, even in the toughest conditions. At Asterism Services, we stand alongside drivers during these challenging times, committed to listening, understanding, and doing our part to make their journey a little smoother.