ARLINGTON, Va. — Driver turnover at large US truckload fleets crept up 1% to an annualized rate of 97% in the third quarter of 2014.
“Driver turnover, which is a good barometer of the driver market, remains high,” said Bob Costello, chief economist of the American Trucking Associations, which tracks turnover. “While it is not approaching its historic highs of the early 2000s, continued economic growth and increased freight demand will continue to exacerbate the shortage of drivers many sectors of the industry are witnessing.”
Turnover also rose at LTL carriers, to 13% from 11%. The turnover rate at small truckload fleets remained unchanged at 94%, ATA reports.
“It is interesting to note, historically, the turnover rate for small truckload fleets was much lower than for larger carriers,” Costello said. “However, with increasing pressure to recruit and retain good, experienced drivers, we’re seeing higher turnover rates at small fleets – with perhaps improving pay and benefit packages at large carriers being a reason.”
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