After a one quarter reprieve, the annualized turnover rate for large truckload fleets rose slightly in the first quarter of 2012 while small truckload fleets saw a tremendous surge in turnover, according to American Trucking Associations' Chief Economist Bob Costello.
According to Costello's monthly Trucking Activity Report, the turnover rate for large truckload fleets rose two percentage points to 90%, its highest point since 1Q 2008.
However, at truckload fleets with less than $30 million in revenue turnover shot up 16 percentage points to 71% in the first quarter, its highest level since the second quarter of 2008.
"We were surprised that the turnover rate dipped in the fourth quarter," Costello says. "This report of a slight rise at large fleets and a significant increase at smaller fleets matches up with what we hear regarding the health of the industry, the tightening of the labor market for drivers and demand for good, quality, experienced drivers."
Turnover at less-than-truckload fleets remained remarkably low - at just 8% - but was up one percentage point from the previous quarter.