TRUCKLOAD TURNOVER RATE SEES SIGNIFICANT DROP IN FOURTH QUARTER
Submitted by Bill on
American Trucking Associations (ATA) recently reported the driver turnover rate at large fleets fell ten percentage points to an annualized rate of 71 percent, the lowest in six years. The turnover rate at small fleets saw an even greater drop of 16 points, putting it at its lowest level in five years.
According to ATA Chief Economist, Bob Costello, "Continued declines in turnover rate reflects the overall choppiness of the freight market. As inventory levels throughout the supply chain are drawn down to more normal levels, and freight volumes recover, we should see turnover rise along with concerns about driver shortage."
The turnover rate at large carriers-- fleets with a revenue greater than $30 million-- has now fallen for four consecutive quarters.