Employment Trends in Transportation and Warehousing
At first glance, the transportation and warehousing sector’s performance was not impressive in the second quarter. It added just 40,300 net new jobs over the three-month period, with 20,800 jobs added in April, 12,200 in May, and just 7,300 net new jobs in June. However, looking a bit deeper, it may not be so bleak.
The second quarter of 2024 was the first since 2022 where the sector grew each month, albeit slowly. Additionally, transportation subsectors continued their strong growth path, with transit and ground passenger, air, and rail transportation all sporting growth over the three-month period.
The real positive story, though, is that warehousing and storage may have broken its two-year long curse. Through 2022 and 2023, the subsector bled jobs that it gained throughout the pandemic ecommerce boom, but growth (though still negative) is on an upward slope. In the second quarter, it gained 5,300 jobs, not exactly impressive but markedly better than past quarters’ experiences.
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