AMERICAN Trucking Associations (ATA) has reported that the third-quarter turnover rate at large truckload carriers fell 11 percentage points to 87 per cent, marking its lowest point since the first quarter of 2017 when it was 74 per cent
AMERICAN Trucking Associations (ATA) has reported that the third-quarter turnover rate at large truckload carriers fell 11 percentage points to 87 per cent, marking its lowest point since the first quarter of 2017 when it was 74 per cent. The drop also reverses two consecutive quarters of increases in the turnover rate, which had driven up the churn rate as high as 98 per cent - 10 points higher than at the end of 2017.
At the same time, the churn rate at smaller truckload carriers - fleets with less than US$30 million in annual revenue - was flat at 72 per cent, and the churn rate at less-than-truckload carriers fell four percentage points to 10 per cent, according to AJOT.
ATA's Chief Economist Bob Costello said: 'The drop in turnover can be potentially explained in a few ways. First, large pay increases fleets have been offering appear to be working, and drivers are remaining with their current carrier. Second, we did see a softening of freight markets in the third quarter from the incredibly strong pace it had set earlier in the year. Historically, softer freight volumes lead to lower driver turnover.'
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