Our latest bi-weekly Mileage Trends Flash Report continues to reveal variations in business activity across the U.S. as Americans work forward through the COVID-19 pandemic. As mentioned in our July 16th report, the many states that have paused or rolled back reopening plans have had a serious impact on business mileage activity. As a result, even though business mileage activity has increased to 59% of pre-pandemic levels, overall growth is starting to plateau.
As we’ve seen over the last few weeks, business activity varies by region and industry, so we continue to track these trends bi-weekly. Here’s a closer look at the findings of this report:
- Mileage growth has plateaued nationwide, but the level of that business activity plateau varies regionally. The Southern and Western U.S. have recovered the highest level of pre-pandemic mileage (61%), with the Midwest close behind with business mileage at 60% of pre-pandemic levels. The Northeastern U.S. is at 53% of pre-pandemic levels.
- Plotting recent jobs report releases and employment data on the national business mileage trend shows that business mileage is a leading indicator of employment trends. Based on the current business mileage trend, we expect a likely decline in U.S. employment levels for July 2020.
- Drilling down into growth across industry sectors shows that business mileage activity trends differ depending on how and where businesses operate.
- Food & Beverage (75% of pre-pandemic levels)
- Construction & Building Materials (68%)
- Machinery (60%)
- Hospitals & healthcare (58%)
- Business Services (55%)
- Retail (53%)
- Pharmaceutical/Biotech & Medical Devices (50%)
- Energy & Environmental (41%)
- Automotive (41%)
- Manufacturing (39%)
As business leaders seek a balanced approach of returning field activity to pre-COVID levels while avoiding unnecessary risk for their employees, we hope these flash reports provide useful benchmarks of field activity and business trend indicators. We will continue to prepare and release these reports bi-weekly in an ongoing effort to provide business leaders with the latest information to help them adapt to the evolving commercial landscape.
For businesses that would like further guidance or to talk through what this data means for you, we’re here to help. Please don’t hesitate to reach out!