The American Trucking Association yesterday announced that driver turnover was up in the third quarter of 2014.
The turnover rate at large truckload carriers rose 1% to 97%. The less-than-truckload carrier rate rose from 11% to 13%.
“Driver turnover, which is a good barometer of the driver market, remains high,” said ATA Chief Economist Bob Costello. “While it is not approaching its historic highs of the early 2000s, continued economic growth and increased freight demand will continue to exacerbate the shortage of drivers many sectors of the industry are witnessing.”
The turnover rate for small truckload fleets remained at 94%.
“It is interesting to note, historically, the turnover rate for small truckload fleets was much lower than for larger carriers,” Costello said. “However, with increasing pressure to recruit and retain good, experienced drivers, we’re seeing higher turnover rates at small fleets – with perhaps improving pay and benefit packages at large carriers being a reason.”