Driver turnover at US truckload fleets dropped 1% in the fourth quarter of 2014, to 96%.
Smaller truckload carriers experienced turnover at a rate of 95% in the fourth quarter.
“We’re seeing the turnover gap between small and large carriers narrow to levels we haven’t experienced in some time,” said American Trucking Associations’ chief economist, Bob Costello. “This is likely the result of larger fleets raising pay, offering bonuses and attracting more and more drivers from smaller fleets to fill seats.”
For the year, large truckload turnover was 95%, down 1% from 2013. Turnover at small fleets was 90% on the full year, up 11% from 2013.
“These figures show us that the driver shortage – which we now estimate to be between 35,000 to 40,000 drivers – is getting more pervasive in the truckload sector,” Costello said. “Due to growing freight volumes, regulatory pressures and normal attrition, we expect the problem to get worse in the near term as the industry works to find solutions to the shortage.”
The turnover rate at LTL fleets was 10% in the fourth quarter, down from 13% in the same period in 2013. For the full year, LTL turnover was 11%, unchanged from the year before.