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After a year of quarterly increases, the turnover rate for truck drivers at large truckload fleets unexpectedly dipped 1% to an annualized rate of 88%, American Trucking Associations said Wednesday.
The turnover rate for less-than-truckload fleets fell to just 7%, from 10% in the third quarter, the group said.
“This reprieve, while surprising, is likely temporary,” ATA Chief Economist Bob Costello said in a statement.
“As the economy continues to recover, freight volumes should continue to grow, which along with regulatory challenges related to hours-of-service and the government’s [Compliance, Safety, Accountability] fleet oversight program, will continue to cause the driver market to tighten and the turnover rate to rise,” he said.