Amidst reports of stagnating driver pay, rampant misregulation, and an industry rife with fraud, it appears that truckers been taking notice and heading for the hills at record speeds. According to a report published by the ATA, driver turnover is on the rise once again.
Large carrier turnover has just reached its highest point since 2012 at an annualized 99%. Given the current trajectory, turnover will be over 100% by the year’s end.
Despite their previous claim that two thirds of the driver shortage in the coming years will be caused by industry growth and drivers reaching retirement, the chief economist for the ATA, Bob Costello, is now saying that a main reason that driver turnover is so high is because “the market for qualified, experienced drivers remains extremely tight.”
Yes, that must be it.
According to the ATA, other factors increasing turnover include new HOS rules, the CSA program, and a general increase in freight.
The turnover in the Less Than Truckload industry meanwhile is at its lowest level in two years at a shocking 6%.
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