Covid-19 Impact on the Transportation Industry
The transportation industry has been one, if not the most affected of all . Since February 2020 many things have changed and continue to change due the outbreak of the Covid-19 and its effects on sectors such as air and ground transportation around the world and particularly the United States.
Millions of employees have been laid of or lost their jobs many of whom were employed in the transportation industry. The economic impact on the drivers is unimaginable. Millions of drivers and chauffeurs are worried about their future and their children’s education who relied on their parents income to pay their college tuitions. Most of the programs that were put in place to help those who lost their income have run out leaving them in very precarious conditions. Taxi companies have closed and thousands of drivers laid off.
The financial burden on small Limousine & Chauffeur Service CompaniesWhat effects have the federal stimulus programs had on the small transportaion companies?
Being too dependant on the airline industry and seasonal events such as ball games and other social events the majority of these companies have closed due the restrictions regarding social distancing and other health measures aimed at preventing the spread of the coronavirus. These businesses have seen a dramatic decline in activities that has put some them on the verge of bankruptcy if things do not ease up soon.
Due their status as independent contractors or self-employed and small business owners, the stimulus bills passed by congress to help businesses impacted by Covid-19 has been out their reach because the conditionalities attached to the eligibilities. Some fo them have been denied unemployment checks leaving them in danger of losing their businesses and homes.