Trucking Turnover Rate Hits Lowest Point in Five Years
Truck driver turnover rates dropped 19 percent year-over-year to 81% in the third quarter for large carriers. This drop is the most significant downward trend in trucker turnover seen in the industry since 2011, according to the American Trucking Associations.
Trucker turnover at smaller truckload fleets raised a percentage point to 80%, but also increased in the third quarter of 2015 by 12 percent. Smaller fleets are considered to be the ones which produce less than $30 million in revenue in a year.
Less-than-truckload turnover stayed low at only 9%. This is a three-percentage point drop from the second quarter. ATA Chief Economist Bob Costello spoke about the issue at the beginning of this month, saying: “There wasn’t a significant change from the second quarter. There’s just not much going on right now. Freight has been soft for a little while, so fleets aren’t making wholesale changes.”
As the demand for freight increases at a slow but steady rate during 2017, many wonder how this will affect the turnover rate. One thing is for certain – more truck drivers will be needed to handle the increased demand for freight transport as market conditions become a bit less tense and conditions improve in the future.