REPORT: Driver Churn Rising At Large Truckload Carriers, Slowing At Small Carriers
Alexandria, Virginia – Driver turnover rose in the first quarter of 2019 for large truckload carriers, while smaller truckload fleets were more fortunate.
According to brand new data from the American Trucking Associations (ATA), truck driver turnover for truckload fleets with more than $30 million in annual revenue rose to 83%.
That’s up 5% from the fourth quarter of 2018.
Truckload carriers with less than $30 million in annual revenue saw their average turnover rate drop from 77% in the fourth quarter of 2018 to 73% in the first quarter of 2019.
Interestingly, small carrier average turnover in the first quarter of 2019 checked in exactly where it was in 2018 during the same period.
Large carrier turnover in the first quarter of 2019 was actually 11 points below a year earlier.
ATA Chief Economist Bob Costello said the turnover rate in the first quarter of the year demonstrated a “muddled picture” of the labor market for drivers.
“While the market for drivers in certain segments continues to be tight, we’re seeing the impacts of a softer freight environment,” Costello said.
“Despite weaker freight growth, it is clear that there is still strong demand for quality drivers industry wide, which will continue to put carriers under pressure to recruit and keep good ones.”
Turnover at less-than-truckload fleets ticked up eight points and now stands at 18%, the highest level in fifteen years, but well below truckload driver turnover.