Truck drivers are staying put … for now.
That’s according to the American Trucking Associations, which today said driver turnover at large truckload fleets dropped 10 percent to an annual rate of 71 percent, the lowest point in six years. The rate at smaller fleets dropped 16 points to its lowest level in five years, according to the ATA.
However, that might not last.
“Continued declines in turnover rate reflects the overall choppiness of the freight market,” said Bob Costello, chief economist for the ATA. “As inventory levels throughout the supply chain are drawn down to more normal levels, and freight volumes recover, we should see turnover rise along with concerns about the driver shortage.”
The ATA also reports:
- The turnover rate at large carriers – fleets with more than $30 million revenue – has fallen for four straight quarters
- The 16-point fourth quarter decline in turnover at small fleets set the rate at 64 percent
- The turnover rate at less-than-truckload fleets dipped one point to 8 percent, the lowest level since the first quarter of 2016