According to the latest edition of American Trucking Associations’ Trucking Activity Report, the annualized driver turnover rate at large truckload fleets dipped two percentage points to 97% in the third quarter of 2013.
“Despite this dip, the market for experienced, qualified drivers remains exceptionally tight,” says ATA Chief Economist Bob Costello. “I expect, as the economy continues to pick up, we’ll see that market get even tighter.”
Turnover at truckload fleets with less than $30 million in annual revenue dropped eight points to 74%, its lowest level since the first quarter of 2012. Turnover at less-than-truckload fleets jumped seven percentage points to 13% in the quarter--the highest level since the first quarter of this year.
“Between increasing demand for freight services and regulatory pressures, I expect fleets to remain challenged finding enough qualified drivers, and we’ll be contending with driver shortage-related issues for the foreseeable future,” Costello says.