Larry Smith/Trans Pixs
The annual driver turnover rate surged in the second quarter, breaking the 100% barrier at large truckload fleets for the first time in more than four years, American Trucking Associations said Wednesday.
For large truckload fleets with more than $30 million in revenue, driver turnover rose 16% to 106%, the highest level since the fourth quarter of 2007. The last time the turnover rate was over 100% was in the first quarter of 2008.
The turnover rate at smaller truckload fleets rose to 86%, a 15-point jump from the previous quarter. The spike put turnover at its highest level since the third quarter of 2007.
The turnover rate for less-than-truckload fleets averaged just 9% in the second quarter, up from 8% in the previous quarter.