TheTrucker.com

Turnover at large TL carriers drops 11 percentage points in third quarter

Reading Time: < 1 minute
Turnover at large TL carriers drops 11 percentage points in third quarter

ARLINGTON, Va. — American Trucking Associations Chief Economist Bob Costello said Thursday the turnover rate at large truckload carriers fell 11 percentage points in the third quarter, undoing two quarters worth of increases in the annualized churn rate.

The turnover rate fell 11 percentage points – dropping it to 87 percent, marking its lowest point since the first quarter of 2017 when it stood at 74 percent.

The drop also reverses two consecutive quarters of increases in the turnover rate, which had driven up the churn rate as high as 98 percent – 10 points higher than at the end of 2017.

WeatherRoute B Test

“The drop in turnover can be potentially explained in a few ways,” Costello said. “First, large pay increases fleets have been offering appear to be working, and drivers are remaining with their current carrier. Second, we did see a softening of freight markets in the third quarter from the incredibly strong pace it had set earlier in the year. Historically, softer freight volumes lead to lower driver turnover.”

Also in the third quarter, the turnover rate at small carriers – fleets with less than $30 million in annual revenue – remained unchanged at 72 percent, and the churn rate at less-than-truckload carriers fell four percentage points to 10 percent.

WeatherRoute B Test
The Trucker News Staff

The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.

Avatar for The Trucker News Staff
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
For over 30 years, the objective of The Trucker editorial team has been to produce content focused on truck drivers that is relevant, objective and engaging. After reading this article, feel free to leave a comment about this article or the topics covered in this article for the author or the other readers to enjoy. Let them know what you think! We always enjoy hearing from our readers.

COMMENT ON THIS ARTICLE