The annualized driver turnover rate at both large and small truckload carriers increased sharply between the first and second quarter of 2017.
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At smaller truckload carriers, the annualized driver turnover rate increased 19 percentage points between the first and second quarter of 2017 to 85 percent.
The annualized driver turnover rate at large truckload carriers increased 16 percentage points between the first and second quarter of 2017 to 90 percent, according to the latest figures from the American Trucking Associations (ATA).
At smaller carriers – those with less than $30 million in annual revenues – the annualized driver turnover rate increased 19 percentage points between the first and second quarter to 85 percent.
“After a period of relatively low turnover, it appears the driver market is tightening again, which coupled with increased demand for freight movement, could rapidly exacerbate the driver shortage,” ATA Chief Economist Bob Costello said.
Meanwhile, the annualized driver turnover rate at less-than-truckload (LTL) fleets was more muddled, with over-the-road LTL turnover dipping one percentage point between the first and second quarter to 9 percent, while the rate for local LTL drivers ticked up 2 percentage points to 14 percent.