The driver turnover rate among truckload carriers increased during the 2006 third quarter following improvements during the first and second quarters of the year, the American Trucking Associations (ATA) reports.
ATA reported higher annualized driver turnover rates for both large and small truckload carriers during the 2006 third quarter.
Large truckload carrier line-haul driver turnover increased to 121 percent from 110 percent in the second quarter. Small truckload carrier turnover, meanwhile, jumped to 114 percent from 100 percent. Large truckload carriers generate at least $30 million in annual revenue. A small carrier earns less than $30 million in annual revenues.
Less-than-truckload line-haul driver turnover was 14 percent. Small truckload carrier driver turnover exceeded 100 percent during the last four consecutive quarters for the first time since ATA began collecting driver turnover statistics in 1995.
The trucking industry currently is experiencing a shortage of about 20,000 long-haul truck drivers. This figure could reach 111,000 by 2014 if current demographic and market conditions remain, according to ATA.