The turnover rate at large and small truckload carriers rose as a result of the improving economy and continued competition for well-trained, professional drivers, according to the American Trucking Associations’ Trucking Activity Report.
“Our data shows that competition for drivers across the industry remains high,” said Bob Costello, ATA’s chief economist, in a written statement. “It is our fear that this competition for drivers may be exacerbated by losses in productivity caused by recent regulatory changes such as the new hours of service rules.”
The report showed that for large truckload fleets — fleets with at least $30 million in annual revenue — turnover rose in the first quarter to an annualized rate of 97 percent, up from 90 percent in the fourth quarter of 2012. For smaller truckload fleets, the rate rose to 82 percent in the first quarter, up from 76 percent in the previous quarter.
In the less-than-truckload sector, turnover increased to 15 percent in the first quarter, compared with 10 percent in the previous quarter, thus reaching the highest level since the fourth quarter of 2005.