Turnover at large TL fleets drops to 97 percent
Turnover at truckload fleets with less than $30 million in annual revenue dropped eight points to 74 percent, its lowest level since the first quarter of 2012.
The Trucker News Services
ARLINGTON, Va. – The annualized driver turnover rate at large truckload fleets dipped two percentage points to 97 percent in the third quarter of 2013, the American Trucking Associations said Wednesday, but in no way does this lessen the need for drivers, a federation official warned.
“Despite this dip, the market for experienced, qualified drivers remains exceptionally tight,” said ATA Chief Economist Bob Costello. “I expect, as the economy continues to pick up, we’ll see that market get even tighter.”
Turnover at truckload fleets with less than $30 million in annual revenue dropped eight points to 74 percent, its lowest level since the first quarter of 2012. Turnover at less-than-truckload fleets jumped seven percentage points to 13 percent in the quarter – the highest level since the first quarter of this year.
After dropping to a low of 39 percent in the first quarter of 2010, the turnover rate for large truckload fleets has steadily rose until it reached 106 percent in the second quarter of 2012.
That rate dropped to 90 percent in the fourth quarter of that year, but has been at the 97 percent or higher level since.
“Between increasing demand for freight services and regulatory pressures, I expect fleets to remain challenged finding enough qualified drivers and we’ll be contending with driver shortage-related issues for the foreseeable future,” Costello said.
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