As demand for shipping softened, the driver turnover rate for operators of large truckload fleets fell 13 percent in the first quarter of the year, the American Trucking Associations said Wednesday.
The turnover rate fell to 89 percent from 102 percent in the fourth quarter of 2015, thanks to a softer freight market.
“While still fairly high, the decline in turnover is reflective of the softening in the freight economy during the first quarter,” said Bob Costello, the trade group’s chief economist.
If demand for freight service bounced back during the second half of the year, both turnover and demand for drivers would rise as well, Costello said.
The turnover rate for drivers of smaller fleets — carriers with less than $30 million in revenue —fell 1 point to 88 percent. The average turnover rate for 2015 was 79 percent.
For drivers of less-than-truckload fleets the turnover rate was down 3 points to 8 percent.