ARLINGTON, Va. – Driver turnover at large U.S. truckload fleets rose 5% in the third quarter, to an annualized rate of 95%, according to the American Trucking Associations (ATA).
“Since bottoming out at the end of 2016, the turnover rate at larger fleets has steadily risen – a function of an improving economy, rising demand for freight transportation and fierce competition for drivers,” said ATA chief economist, Bob Costello. “The tightening of the driver market has raised fears about the driver shortage, which will hit an all-time high this year.”
Turnover at small truckload fleets dipped slightly, 1%, to a rate of 84%.
LTL fleets saw driver turnover slide 2% to 7%, the lowest the rate has been since the second quarter of 2016.
“Fleets continue to tell us that competition for good, safe and experienced drivers is fierce, pushing wages higher in hopes of attracting the best talent,” Costello said. “However, unless steps are taken to make it easier for individuals to pursue careers in trucking, demand for drivers will continue to outstrip supply – eventually even leading to supply chain disruptions.”