Walmart (WMT) is driving up pay for its truckers.
In a blog post Thursday, the nation's largest retailer announced it will be increasing starting salaries for its freight drivers to between $95,000 and $110,000 a year, up from an average starting salary of $87,500, according to a Walmart spokesperson.
"Drivers who have been with Walmart longer can earn even more, based on factors like tenure and location," the blog noted.
The push comes as supply-chain problems further exacerbate an already troubled trucking industry. The American Trucking Association estimates the nation is short about 80,000 drivers.
Walmart has hired 7,000 drivers for its internal fleet during the past two years, while last year hiring 4,500, which is the most in the company's history, said a spokesperson.
Walmart has also launched a "Private Fleet Development Program," a 12-week program taught by established Walmart truckers to train new drivers.
The company is also paying for supply chain associates in the Dallas, Texas, and Dover, Delaware, areas to earn commercial driver's licenses (CDL), which typically cost between $4,000 to $5,000, in order to become professional Walmart drivers.
So far, Walmart has moved 17 workers from its warehouse operations to its training program, with aims to add "400-800 new drivers this year."
The White House is also trying to address the driver shortage. The Biden administration recently hosted truck operators, drivers, economists, and other experts at the White House to raise awareness about the challenges facing the industry and to tout the administration's "Trucking Action Plan," a 90-day effort to help bring more truck drivers into the industry.
"Trucking moves about 70% of all the goods in this country, and truck drivers are facing real challenges," said Biden.
Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter: @daniromerotv
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