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Truckload and LTL driver turnover rises in first-quarter 2013
The Trucker – July 11, 2013Truckload and LTL driver turnover rises in first-quarter 2013 According to ATAâs Trucking Activity Report, quarterly turnover at large truckload fleets â fleets with at least $30 million annual revenue â rose in the first quarter to an annualized rate of 97 percent from 90 percent in the fourth quarter of 2012. The Trucker News Services 7/11/2013 ARLINGTON, Va.â In the first quarter of 2013, the turnover rate at both large and small truckload carriers rose due to the improving economy and continued competition for well-trained professional drivers. âOur data shows that competition for drivers across the industry remains high,â said American Trucking Associations Chief Economist Bob Costello. âIt 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. According to ATAâs Trucking Activity Report, quarterly turnover at large truckload fleets â fleets with at least $30 million annual revenue â rose in the first quarter to an annualized rate of 97 percent from 90 percent in the fourth quarter of 2012. The rate was the highest it has been since the third quarter of 2012 when it was 104 percent and just below the average rate in 2012 of 98 percent. At smaller truckload fleets, the rate rose to 82 percent in the first quarter from 76 percent in the previous quarter. The rate matches the 2012 annual average, but is below the most recent high of 94 percent in the third quarter of last year. In the less-than-truckload sector, turnover jumped to 15 percent in the first quarter from 10 percent in the previous quarter. The increase pushes LTL turnover, historically much less volatile than the truckload market, to its highest level since the fourth quarter of 2005. âIf the economy continues to improve as we expect it to,â Costello said, âweâll see competition for drivers intensify, which will increase not just the turnover rate and exacerbate the driver shortage, but will push costs for fleets higher as well.â The Trucker staff can be reached to comment on this article at firstname.lastname@example.org. Find more news and analysis from The Trucker, and share your thoughts, on Facebook.