ATA: Driver turnover drops at truckload carriers in Q1 2016

Annualized turnover rates at large truckload fleets fell 13 percentage points to 89 percent, while turnover at smaller fleets slipped 1 point to 88 percent in the first quarter of 2016, according to the American Trucking Associations.    Annualized driver turnover rates at large truckload fleets fell 13 percentage points to 89 percent during the first quarter of 2016, the lowest level since the second quarter of 2015, according to the latest figures from the American Trucking Associations (ATA).
   The quarterly decrease in ATA’s annualized driver turnover rate for large truckload fleets followed two consecutive quarters above 100 percent, the first such streak since 2012. The association said the average churn rate for large truckload carriers stood at 93 percent for the full year in 2015.
   For small truckload carrier fleets – those with less than $30 million in annual revenues – ATA said the annualized driver turnover rate slipped one point to 88 percent, the lowest level since third quarter 2015. Turnover at small truckload operators averaged just 79 percent for the year.
   The turnover rate at less-than-truckload carriers remained significantly lower than at their truckload counterparts, falling three points to 8 percent in the first quarter, the lowest point since second quarter 2013.
   “While still fairly high, the decline in turnover is reflective of the softening in the freight economy during the first quarter,” ATA Chief Economist Bob Costello said in a statement. “Should the freight economy witness an uptick during the second half of the year, we should see both turnover and demand for drivers rise as well.”
   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.