Turnover Rose at Large Truckload Fleets in the Second Quarter
ARLINGTON, VA--Oct. 7, 2013: According to the latest edition of American Trucking Associations' Trucking Activity Report, the annualized turnover rate at large truckload fleets rose two percentage points to 99% in the second quarter of 2013.
"Continued high turnover shows that the market for qualified, experienced drivers remains extremely tight," ATA Chief Economist Bob Costello said. "The continued improvement in the freight economy, coupled with regulatory challenges from the changing hours-of-service rule and CSA will only serve to put a further squeeze on the market for drivers."
The increase in turnover at large fleets pushed the rate to its highest point since the third quarter of 2012 and just above the annual rate of 98% in 2012.
Turnover at truckload fleets with less than $30 million in annual revenue remained unchanged at 82% while turnover at less-than-truckload fleets plummeted nine percentage points to 6% - the lowest level in two years.
"A tight market for drivers will push costs higher for fleets as they work to recruit or retain quality drivers," Costello said.