The American Trucking Associations said the turnover rate at truckload fleets with more than $30 million in annual revenue fell six points to 83% in the second quarter – the lowest point since the second quarter of 2011.
“The continued decline in the turnover rate reflects the continued choppiness in the freight economy,” said ATA Chief Economist Bob Costello. “As we hopefully approach the end of this period of elevated inventories later this year, freight demand will pick back up leading to increased demand for drivers and higher turnover rates in the future.”
The turnover rate at smaller truckload fleets fell nine points to 79%, its lowest point since the third quarter of 2015. Turnover at less-than-truckload carriers rose four points to 12%.
“Though the turnover rate continues to fall at truckload carriers, finding enough qualified drivers remains a concern for many carriers,” Costello said.