Turnover at large truckload fleets rose three percentage points in the second quarter of the year to an annualized rate of 87%, according to American Trucking Assns.’ Chief Economist Bob Costello.
“While below recent averages, driver turnover is still high and a sign of a very competitive market for qualified drivers,” Costello said “We repeatedly hear from carriers that they are unable to find enough qualified drivers, leading to fears of a growing driver shortage and these numbers reflect that.”
Turnover at smaller truckload fleets, those with less than $30 million revenue fell seven points to 76%, its lowest mark since the third quarter of 2013. Turnover at large fleets is at its lowest point since the second quarter of 2011 and below the 2014 average of 95%.
Last week, ATA released a report pegging the driver shortage at 48,000 by the end of this year.
“America’s trucking industry moves nearly 70% of the country’s freight and we need drivers to do it,” Costello said. “While turnover is not at historic highs, it is still high enough to merit concern. Fleets need to hire 89,000 a drivers a year to keep pace with retirements and projected growth, so ensuring an adequate pool of qualified drivers is critical.”
