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Friday, June 21, 2024

Turnover rate at large U.S. truckload fleets climbed two points

Large U.S. Truckload Turnover Hits High

Annualized turnover rate at large U.S. truckload fleets climbed two points to 99 percent in the second quarter of 2013, the American Trucking Associations (ATA) reported.

The increase pushed the rate to its highest point since Q312, and just above the annual rate of 98 percent in 2012, ATA noted.

The ongoing turnover shows that the market for qualified, experienced drivers is extremely tight, said Bob Costello, ATA’s chief economist.

“The continued improvement in the freight economy, coupled with regulatory challenges from the changing hours-of-service rule and CSA will only serve to put a further squeeze on the market for drivers.

“A tight market for drivers will push costs higher for fleets as they work to recruit or retain quality drivers,” Costello said.

Meanwhile, turnover at truckload fleets with less than $30 million in annual revenue held steady at 82 percent while turnover at less-than-truckload fleets dropped nine percentage points to 6 percent — the lowest level in two years, said ATA.