Driver turnover has dropped for four straight months among large carriers with more than $30 million in revenue.
The turnover rate at large carriers dropped 10 percentage points to 71 percent in the fourth quarter of 2016, the American Trucking Associations’ quarterly Trucking Activity Report said.
It dipped 16 points to 64 percent at smaller carriers, the trade group reported.
“Continued declines in turnover rate reflects the overall choppiness of the freight market,” said Bob Costello, the ATA’s chief economist. “As inventory levels throughout the supply chain are drawn down to more normal levels and freight volumes recover, we should see turnover rise along with concerns about driver shortage.
The turnover rate at less-than-truckload carriers dropped one point to 8 percent, the lowest level since the first quarter of 2016.