The “driver shortage” should be called a “driver squeeze”

Commentary

Early in my career as a business journalist, covering the metals industry, I was advised not to use the word “shortage” to describe a market. Other terms like “squeeze” were preferred. And it made sense: classic economics would dictate that what was perceived as a shortage was really only a market imbalance that the pricing mechanism would correct by attracting new supply or decreasing demand.

When OOIDA discounts the talk of a “driver shortage,” and instead says it is an issue of pay and working conditions, the organization is reflecting this approach. But if they want to say that, then presumably they will be consistent when they’re trying to get a vehicle repaired and can’t find a diesel mechanic because of the “diesel mechanic shortage.” There is clearly a diesel mechanic squeeze, and the numbers of new mechanics aren’t meeting demand. But if there truly can’t be a shortage, that it is just a function of the pricing mechanism, then there is no diesel mechanic shortage, just like there’s no driver shortage.

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