The pace of driver turnover at big motor carriers rose to 95 percent in the third quarter of 2017, up 14 percentage points from the same period a year earlier. The third quarter turnover rate is up five percentage points from 90 percent in the second quarter of this year, according to the American Trucking Associations’ latest report. Turnover at small trucking fleets – those with less than $30 million in annual revenue – increased two percentage points from 82 percent to 84 percent for the same period in 2016. The rate dropped one percentage point compared with the second quarter of this year.
Turnover rate is a “Reflection of the current state of the driver market,” said Bob Costello, chief economist at the ATA. “When turnover rates are lower, that tells us that the driver market is not as tight, that drivers are not in as high of demand,” Costello told Trucks.com. “Since bottoming out at the end of 2016, the turnover rate at larger fleets has steadily risen – a function of an improving economy, rising demand for freight transportation and fierce competition for drivers,” he said. The increasing churn rate may be attributed to truckers jumping from fleet to fleet as carriers offer sign-on bonuses to attract drivers.
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