The self-employment landscape in the Wholesale, Retail, and Repair of Motor Vehicles and Motorcycles sector in the US is projected to see a steady decline from 2024 to 2028. Starting in 2024 at 283,000 jobs, the number drops gradually to 274,000 jobs by 2028. This represents a consistent year-on-year decrease, with the most significant drop observed between 2024 and 2025 at approximately 0.71%. The compound annual growth rate (CAGR) over these years shows an average decrease of around 0.81% per year.
Future trends to watch for include:
- Technological advancements in automotive repair could further reduce the necessity for self-employed workers.
- Increasing regulation and compliance costs for self-employed individuals may act as a deterrent.
- Shifts in consumer behavior toward digital and online services might require adaptation in business models for self-employed individuals in this sector.