The turnover rate at US truckload fleets climbed slightly in the first quarter of 2017 while remaining at historically low levels, according to American Trucking Associations (ATA).
Bob Costello, ATA chief economist, said, “The slight uptick in turnover, despite weak freight volumes in the first quarter, may be indicative of a tightening in the driver market. 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 2017, the annualized turnover rate at large truckload fleets—those with annual revenues greater than $30 million—gained three percentage points to 74%. Despite the increase, it remains at near-historic lows and is 15 points lower than at this time in 2016.
For small truckload fleets, the turnover rate rose two points to 66%, or 22 points lower than at this time in 2016.
The turnover rate at less-than-truckload carriers, typically very low, remained so, advancing two points to just 10%.