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The Market for Drivers Tightens

by Anna Mischke | Sep 21, 2017

Customer News 092117The trucking industry saw a leap in driver turnover in the second quarter; the American Trucking Associations (ATA) released recent data showing the possibility that this number could increase in the coming months. The recent swell in turnover is the biggest quarterly increase since 2010.

Turnover at large carriers increased to 90 percent at the end of June, the biggest quarterly increase since the final quarter of 2010 and highest rate since the fourth quarter on 2015. Small carriers, or carriers with annual revenue less than $30 million, experienced a rapid 21% increase in the second quarter. ATA’s chief economist, Bob Costello, said “After a period of relatively low turnover, it appears the driver market is tightening again, which coupled with increased demand for freight movement could rapidly exacerbate the driver shortage.” He shared that the ATA “predicted that last year’s period of relatively low and stable turnover could be short-lived if the freight economy recovered from 2016’s freight recession” adding that “it appears those predictions were correct.”

Turnover is calculated by observing the number of drivers leaving a job and taking a new one, retiring drivers and terminated drivers as a percentage of the total number of active drivers. The statistics from each quarter is multiplied by four for the annual rate.

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