ATA: Driver turnover jumps at large truckload carriers in Q2 2015

Annualized turnover rates at large truckload fleets grew, while turnover at smaller fleets fell to its lowest level since the third quarter of 2013, according to the most recent figures from the American Trucking Associations.    Annualized driver turnover rates at large truckload fleets jumped 3 percentage points to 87 percent during the second quarter of 2015, according to the latest figures from the American Trucking Associations.
   ATA’s annualized driver turnover rate for large truckload fleets remained below 90 percent for the only the second time since 2011 as low wages and poor working conditions continued to exacerbate a shortage of drivers in the industry. Turnover at large carriers reached its lowest point since the second quarter of 2011 and is well below the 2014 average of 95 percent.
   For small truckload carrier fleets – those less than $30 million in annual revenues – ATA said the annualized driver turnover rate fell 7 percentage points to 76 percent, its lowest level since the third quarter of 2013.
   ATA published a report last week estimating the shortage of drivers in the trucking industry will reach 48,000 by the end of 2015 and could grow to as many as 175,000 by 2024.
   “America’s trucking industry moves nearly 70% of the country’s freight and we need drivers to do it,” ATA Chief Economist Bob Costello said in a statement. “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.”