ARLINGTON, Va. – Truck driver turnover in the U.S. fell 11% in the third quarter, undoing two quarters of increases in the annualized churn rate.
The American Trucking Associations (ATA) reported turnover at large truckload carriers dropped to 87%, marking its lowest level since the first quarter of 2017 when it stood at 74%.
“The drop in turnover can be potentially explained in a few ways,” said ATA chief economist, Bob Costello. “First, large pay increases fleets have been offering appear to be working, and drivers are remaining with their current carrier. Second, we did see a softening of freight markets in the third quarter from the incredibly strong pace it had set earlier in the year. Historically, softer freight volumes lead to lower driver turnover.”
Turnover among small carriers – fleets with less than US$30 million in annual revenue – remained unchanged at 72%, while LTL fleets saw driver turnover fall 4% to 10%.