The economic downturn due to the pandemic has been felt across the globe, but there’s a light at the end of the tunnel. Areas across the country are experiencing a rebound, and a large part of it is being driven by the wholesale trade and transportation industries.
Wholesale trade, in particular, has experienced a surge in activity, with a 6.3% increase in sales in August 2020 compared to the previous year. This is the biggest growth in wholesale trade since December 2019, and is indicative of a strong recovery for the industry. This growth is being driven by increased consumer demand for goods and services, as well as increased production from manufacturers in response to that demand.
Transportation is also seeing an uptick in activity, with the transportation and warehousing industry experiencing a 6% increase in August 2020 compared to the prior year. This growth is being driven by increased demand for shipping services, as well as the need for efficient transportation of goods. In addition, the need for efficient transportation.
In addition to the increase in demand for transportation services, the industry is also seeing a rise in job opportunities. According to the Bureau of Labor Statistics, the transportation and warehousing industry added nearly 100,000 jobs in the month of August 2020. This is the largest monthly increase in the industry since June 2019, and is indicative of a strong recovery.
The growth in the wholesale trade and transportation industries is a positive sign for the overall economic recovery in areas across the country. These industries are essential for the efficient distribution of goods and services, and their growth is indicative of an increase in consumer demand. This, in turn, is driving the overall economic rebound in these areas.
Wholesale trade and transportation are essential to the economic recovery in areas across the country, and their growth is a positive sign for the future. With increased consumer demand and job opportunities in the industry, it’s likely that these industries will continue to drive the economic recovery in the months and years ahead.