U.S. Driver Turnover Rate Rises
The turnover rate at U.S. truckload fleets rose slightly in the first quarter of 2017 while remaining at historically low levels.
“The slight uptick in turnover, despite weak freight volumes in the first quarter, may be indicative of a tightening in the driver market,” said ATA Chief Economist Bob Costello. “The situation bears watching because if the freight economy picks up significantly, turnover will surely accelerate – as will concerns about the driver shortage.”
In the first three months of the year, the annualized turnover rate at large truckload fleets – those with annual revenues greater than $30 million – rose three percentage points to 74%. Despite the increase, it remains at near-historic lows and is 15 points lower than at this time last year.
The turnover rate at small truckload fleets rose two points to 66%, 22 points lower than at this time in 2016.
The turnover rate at less-than-truckload carriers, typically very low, remained so, rising two points to just 10%.