ARLINGTON, Va. – Driver turnover at large US truckload fleets slipped 10% in the fourth quarter, reaching 71%, according to the American Trucking Associations (ATA).
That’s the lowest point turnover has hit in six years. Smaller fleets saw driver turnover plummet 16% to 64%, its lowest level in five years.
“Continued declines in turnover rate reflects the overall choppiness of the freight market,” said ATA chief economist Bob Costello. “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 the driver shortage.”
The turnover rate at large carriers has now decreased for four straight quarters. Driver turnover at less-than-load (LTL) fleets dipped 1% to 8%, the lowest level reported since the first quarter of 2016.