Turnover at large truckload fleets highest since 2015

American Trucking Associations reports LTL churn rate reached five-year high.    The annualized turnover rate at large truckload carriers climbed four percentage points in the second quarter to 98 percent, according to American Trucking Associations’ Trucking Activity Report. 
   “So far this year, the turnover rate at large truckload fleets is up 10 percentage points,” said ATA Chief Economist Bob Costello. “The extreme tightening of the driver market — driven by solid freight demand — will continue to challenge fleets looking for qualified drivers.”
   The turnover increase for carriers with more than $30 million in annual revenue set the churn rate at its highest point since the fourth quarter of 2015. In the first half of the year, turnover averaged 96 percent, putting 2018 on pace to be the highest annual rate since 2013, ATA said.
   At the same time, the turnover rate at smaller truckload fleets slipped one percentage point to 72 percent, ATA said.
   “There is something happening with turnover at these smaller fleets,” Costello said. “The driver market remains tight across the truckload sector, but the turnover rate at these smaller carriers is down 14 points from the same time last year. Like large carriers, small truckload carriers have been aggressively raising pay this year, which has helped their turnover rate level off.”
   Turnover at less-than-truckload fleets also increased four percentage points to 14 percent, the highest mark for this sector since the first quarter of 2013.