Envestnet | Yodlee is tracking how the current public health crisis and economic climate is impacting several industries in the United States. We are looking at both national and regional implications of the COVID-19 pandemic through broad income and spending trends of Americans.
All aspects of the transportation sector have been hit hard. With so many Americans working from home, only employees of essential businesses and services maintain their regular commute. This has led to severe declines in spending on public transit, ridesharing, parking fees and car rentals.
Focusing in on the airline industry, social distancing and the widespread cancellation of travel plans has led to plummeting passenger traffic on flights in the United States. Activity at New York City-area airports is down 95% compared to this time last year. With such a swift decline in travelers, major airports in the region are laying off support staff.