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Driver Q3 turnover at truckload carriers hits 5-year low
LATEST statistics from the American Trucking Association (ATA) show that annualised driver turnover rates at large truckload fleets slipped another 2 percentage points to 81 per cent during the third quarter of 2016 following drops of 13 percentage points and 6 percentage points in the first and second quarter, respectively.
ATA noted the third quarter driver turnover rate was the lowest since the second quarter of 2011, American Shipper reported.
The first quarter 2016 decrease for large truckload fleets followed two consecutive quarters above 100 per cent, the first such streak since 2012. Average churn rate for large truckload carriers stood at 93 per cent for the full year in 2015.
For small truckload carrier fleets - those with less than US$30 million in annual revenues - ATA said the annualised driver turnover rate rose 1 percentage point to 80 per cent after falling 9 points the previous quarter. Turnover at small truckload operators averaged 79 per cent in 2015.
The turnover rate at less-than-truckload carriers remained significantly lower than at their truckload counterparts, falling 3 percentage points to 9 per cent.
ATA chief economist Bob Costello said in a statement: "Since the end of the third quarter, we have seen signs that we may be reaching the end of the poor inventory cycle that has driven a lot of the weakness in the freight economy, so we may see turnover rates rebound in the months to come.
"Despite the falling turnover rate, carriers continue to report difficulty finding well-qualified drivers, a problem that will not only persist, but which will get worse as the freight economy improves," he added.
ATA published a report last October estimating the shortage of drivers in the trucking industry would reach 48,000 by the end of 2015 and could grow to as many as 175,000 by 2024
ATA noted the third quarter driver turnover rate was the lowest since the second quarter of 2011, American Shipper reported.
The first quarter 2016 decrease for large truckload fleets followed two consecutive quarters above 100 per cent, the first such streak since 2012. Average churn rate for large truckload carriers stood at 93 per cent for the full year in 2015.
For small truckload carrier fleets - those with less than US$30 million in annual revenues - ATA said the annualised driver turnover rate rose 1 percentage point to 80 per cent after falling 9 points the previous quarter. Turnover at small truckload operators averaged 79 per cent in 2015.
The turnover rate at less-than-truckload carriers remained significantly lower than at their truckload counterparts, falling 3 percentage points to 9 per cent.
ATA chief economist Bob Costello said in a statement: "Since the end of the third quarter, we have seen signs that we may be reaching the end of the poor inventory cycle that has driven a lot of the weakness in the freight economy, so we may see turnover rates rebound in the months to come.
"Despite the falling turnover rate, carriers continue to report difficulty finding well-qualified drivers, a problem that will not only persist, but which will get worse as the freight economy improves," he added.
ATA published a report last October estimating the shortage of drivers in the trucking industry would reach 48,000 by the end of 2015 and could grow to as many as 175,000 by 2024
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