Turnover at truckload fleets eases down to 97% in third quarter

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The annualized turnover rate at large truckload fleets ticked down two percentage points in the third quarter to 97 percent, according to the American Trucking Associations, who reported the turnover rates in its latest Trucking Activity Report.

Though the percentage fell, says ATA Chief Economist Bob Costello, the market for drivers will tighten, especially as freight demand increases as the economy improves. “The market for experienced, qualified drivers remains exceptionally tight,” Costello said. “I expect, as the economy continues to pick up, we’ll see that market get even tighter.”

“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.

Turnover at truckload fleets with annual revenue of less than $30 million — deemed small truckload fleets by ATA — fell eight points to 74 percent, ATA says, dropping to its lowest level since the first quarter of 2012. Turnover at less-than-truckload fleets rose seven points in the third quarter to its highest level this year — 13 percent.