Turnover at For-Hire Carriers Unchanged in First Quarter
The turnover rate at large truckload carriers rose just one percentage point to 92% (annualized rate) in the first quarter of 2014, but held above 90% for the ninth consecutive quarter, according to the American Trucking Associations (ATA).
While turnover is well above the low of 39% four years ago, ATA Chief Economist Bob Costello said it is far from the worst the industry has seen.
“While high, turnover at large truckload carriers is lower than other years when the driver shortage was as acute,” Costello said.
“In 2005, turnover averaged 130%. In 2006, another year with a tight driver market, turnover averaged 117% for this group of carriers.”
Turnover at small truckload fleets slipped 1 point in the first quarter of the year to 78%, which was the second lowest rate during the past year. In 2005 and 2006, turnover averaged 96% and 109%, respectively, for this group.
Turnover in the less-than-truckload sector fell 1 point to just 10% in the first quarter, which was the lowest mark since the second quarter 2013.
Category: Driver Stuff, General Update, Management
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