Forecast: Total Hours Worked in Wholesale, Retail Trade and Repair of Motor Vehicles and Motorcycles in the US

In 2023, the total hours worked in Wholesale, Retail Trade, and Repair of Motor Vehicles and Motorcycles in the US stood at 5.62 billion hours. Forecasts for 2024 indicate this will rise to 5.67 billion hours, an increase of 0.89%. From 2024 onward, the projected year-on-year growth rates show steady increases: 0.88% in 2025, 0.70% in 2026, 0.69% in 2027, and 0.86% in 2028. Over the five-year period, the Compound Annual Growth Rate (CAGR) is expected to average 0.79% per year.

Future trends to watch for include:

  • Technological advancements driving efficiency in operations.
  • Shifts in consumer behavior impacting retail trade activities.
  • The potential impact of economic conditions on workforce dynamics.

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