Truckload turnover rate rises slightly in U.S. in first quarter
"The slight uptick in turnover, despite weak freight volumes in the first quarter, may be indicative of a tightening in the driver market," said ATA Chief Economist Bob Costello.
"The situation bears watching because if the freight economy picks up significantly, turnover will surely accelerate – as will concerns about the driver shortage."
In the first three months of the year, the annualized turnover rate at large truckload fleets – those with annual revenues greater than $30 million – rose three percentage points to 74%. Despite the increase, it remains at near-historic lows and is 15 points lower than at this time last year.
The turnover rate at small truckload fleets rose two points to 66%, 22 points lower than at this time in 2016.
The turnover rate at less-than-truckload carriers, typically very low, remained so, rising two points to just 10%. ■