2021 Is The Year of Economic Recovery
An excerpt from the GHBP highlights several of the factors contributing to this. ” (The) U.S. is enjoying robust economic growth. The U.S. Bureau of Economic Analysis reports real gross domestic product (GDP) grew at a 6.4 percent annual rate in Q1/21, the fastest rate of growth since Q1/03.
The robust recovery has boosted job growth. The U.S. has recouped 14.1 million of the 22.4 million jobs lost in the COVID-19 pandemic. Through the first four months of this year, the nation has created 1.8 million jobs. Though April job growth was weaker than expected, the nation should add 4.0 to 6.0 million jobs this year.
Job growth is especially strong for occupations at the high end of the wage scale. According to Economic Tracker, a recovery monitoring tool developed by economists at Harvard University, the U.S. now has more jobs paying $60,000 or above than it did prior to the recession. ”
We have seen the demand for equipment remain high, while certain markets, especially specialty chassis supplies have remained low. Innova continues to provide quality refurbished equipment to help our customers grow their transportation and bulk liquid capacities.
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