Jin Lee/Bloomberg News
Truckload turnover hovered at elevated levels in the fourth quarter, American Trucking Associations reported, raising concerns about adequate driver supply in an improving freight market later this year.
The trade federation said churn at large truckload fleets, whose annual revenue is at least $30 million, was 91% last quarter, compared with 97% in the third quarter of 2013. Turnover at small fleets, with revenue below $30 million, rose to 79% from 74% in the third quarter of last year.
“The good news is that [turnover] didn’t spike last year; the bad news is that it remained very elevated,” ATA Chief Economist Bob Costello told Transport Topics. “Turnover certainly has the potential to get worse as capacity tightens, freight increases and good drivers feel more empowered to see if the grass is greener on the other side of the fence.”