ARLINGTON, Va. – US drivers working for LTLs tend to stay put and not jump from employer to employer.
According to figures released by the American Trucking Association (ATA) the turnover rate for the entire industry was up one percentage point to 92% (annualized rate) for Q1 2014. While it was the slightest of increases, the ATA points out this was the ninth consecutive quarter the rate was above 90%.
In remarking on the figure, ATA chief economist Bob Costello said the rate has been much higher in the past.
“While high, turnover at large truckload carriers is lower than other years when the driver shortage was as acute,” he said. “In 2005, turnover averaged 130%. In 2006, another year with a tight driver market, turnover averaged 117% for this group of carriers.”
At its lowest (which was four years ago) the turnover rate was 39%.
Breaking out the figures, the ATA noted that small truckload fleets saw their turnover slip 1% to 78%, which was the second lowest rate of the past year. In 2005 and 2006, turnover averaged 96% and 109%, respectively, for this group.
As for the American LTL sector, it also dropped 1% to 10%—the lowest mark since the Q2 2013.
Costello noted that poor weather during the first quarter could have kept a lid on turnover and it could still rise as improved economic growth and healthier freight volumes put more pressure on the driver market and the driver shortage.