Turnover rates at large and small truckload carriers remain at lower levels despite a soft freight environment, according to the latest numbers tracked by American Trucking Associations.
In the first quarter of 2019, turnover dropped to 73% for small carriers bringing in less than $30 million in revenue, the lowest it has been since Q1 2018. At large carriers, turnover increased to 83%, but it still remains 11 points lower than 2018’s average of 89%.
These opposing but still solid churn rate results paint a somewhat muddled picture of the labor market for drivers, but still demonstrate the demand for skilled drivers at most fleets, according to ATA Chief Economist Bob Costello.
“While the market for drivers in certain segments continues to be tight, we’re seeing the impacts of a softer freight environment,” Costello said. “Despite weaker freight growth, it is clear that there is still strong demand for quality drivers industry wide, which will continue to put carriers under pressure to recruit and keep good ones.”
At less-than-truckload carriers, turnover was up eight points, hitting 18% – its highest level in 15 years, but still well below truckload driver turnover.