Driver Turnover Rate Rises in Second Quarter
Driver turnover at large truckload fleets rose in the second quarter as the market for experienced drivers remains tight, American Trucking Associations reported.
The turnover rate at large truckload fleets rose 2 percentage points to 99% in the second quarter, the highest level since the third quarter of 2012. The turnover rate is slightly above the annual rate of 98% in 2012.
“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,” ATA Chief Economist Bob Costello said in a statement.
Turnover at smaller truckload fleets with less than $30 million in annual revenue remained unchanged at 82% from the previous quarter.
Turnover at less-than-truckload fleets declined 9 percentage points to 6%, the lowest level in two years, ATA said Oct. 7.
“A tight market for drivers will push costs higher for fleets as they work to recruit or retain quality drivers,” Costello said.
