ARLINGTON, VA. — Turnover at large truckload fleets in the United States fell to the lowest rate since 2011, the American Trucking Associations (ATA) recently announced.
Dropping two points to 81% in the third quarter, the turnover rate at truckload fleets with more than $30 million in annual revenue has declined three times in 2016.
Continued softness in the freight economy has been a factor in lowering the market for drivers and thus reducing the turnover rate.
“Since the end of the third quarter, we have seen signs that we may be reaching the end of the poor inventory cycle that has driven a lot of the weakness in the freight economy, so we may see turnover rates rebound in the months to come,” said ATA Chief Economist Bob Costello.
Turnover at smaller truckload fleets rose one point to 80%. Turnover at less-than-truckload carriers fell three points to 9%.
“Despite the falling turnover rate, carriers continue to report difficulty finding well-qualified drivers, a problem that will not only persist, but which will get worse as the freight economy improves,” Costello said.