ARLINGTON, Va. – American Trucking Associations (ATA) declared that the turnover ratio at any given large truckload fleet declined by 81% in the 3rd quarter resulting in lowest since last five years.
“Ongoing elasticity in the freight economy has been the key factor to an easing of the market for drivers and a reduced turnover rate,” mentioned ATA chief economist Bob Costello. “Since the end of the third quarter, market trend signs that we may be heading towards the end of the poor inventory cycle that has impacted a lot of the weakness in the freight economy, so we may observe turnover rates rebound in the months to come.”
At its nethermost level since the second quarter of 2011, the decline in turnover rates impacted fleets with more than $30 million in annual gross revenue.
Turnover at much smaller truckload fleets rose from one point to 80%, while revenue at less-than-truckload carriers declined three points to 9%.
“Even though the falling turnover rate conitnues, carriers continue to report difficulty finding well-qualified drivers, a problem that will not only persist, but which will get worse as the freight economy improves,” Costello said.