10 year anniversary of 2008 recession – are convenience services helping create a strong U.S economy?

This month marks the anniversary of the 2008 market crash in which millions lost their jobs and homes. That year, the economy was losing roughly 170,000 jobs a month with a total of 700,000 jobs lost in the last two months of the year alone.

Luckily, our economy has grown a great deal since that tumultuous time.

America’s unemployment rate currently stands at 4% — the best it’s ever been in the U.S since the late 1960s. The economy is growing, unemployment is at an all time low and wealth levels are rising.

Just how much of this has to do with the convenience services industry? More than you might think. The convenience services industry—which includes small business owners, manufacturers, distributors, and suppliers—delivers nearly $25 billion yearly to the U.S. economy. In addition to this economic impact, the industry provides over 140,000 jobs with an estimate of $7.2 billion in employee wages.

The National Automatic Merchandising Association (NAMA), an association of business professionals who operate in the convenience service industry, including industries such as  vending, micro market, office coffee, and pantry services as well as foodservice is a large participant in the industry. From Silicon Valley to Des Moines to Wall Street, these companies provide other businesses, large and small, with food and beverages that power their employees’ productivity.

U-Select-It is proud to be a member of NAMA. Backed by over 85 years of manufacturing vending products, U-Select-It currently stands as one of the most reliable names in the business. As easy to operate as they are to maintain, U-Select-it’s vending merchandisers are ideal for all types of establishments, both large and small. From waiting rooms too break areas, U-Select-It  products provide the best in refreshment when it is needed most.

To learn more about U-Select-It and for more vending news, visit uselectit.com.

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