ARLINGTON, VA – Driver turnover at large truckload fleets has plunged to 71%, reaching the lowest point in six years, the American Trucking Associations reports. The rate has now dropped for four straight quarters.
Turnover at smaller truckload fleets dropped to 64%, reaching a level not seen in five years.
“Continued declines in turnover rate reflects the overall choppiness of the freight market,” says Bob Costello, the association’s chief economist. “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.”
Large fleets are defined as those with more than US $30 million in revenue.
Less than Truckload driver turnover has dropped to 8%, reaching the lowest point since the first quarter of 2016.
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