New Report Shows FedEx Job Growth and Positive Impact to U.S. Economy During the Pandemic
September 27 2021 - 9:02AM
Business Wire
Highlights $70 billion direct economic impact
on national economy; positive impact in local markets
FedEx Corp. (NYSE: FDX) today released the findings from a new
report that analyzed the company’s impact on the United States
economy and ten specific local economies throughout the country.
The report, produced in consultation with Dun & Bradstreet
(NYSE: DNB), a leading global provider of business decisioning data
and analytics, finds that FedEx delivers nearly $70 billion in
direct impact on the national economy through its revenue and
related business activity including $8 billion in U.S. economic
activity created by operations with other companies within the
transportation sector, supporting millions of jobs across the
country through direct employment and indirect economic
activity.
In the face of the pandemic, FedEx helped to sustain economic
and social functionality across the country, accommodating a record
39 percent surge in e-commerce volumes in the U.S. between the
first quarters of 2020 and 2021 while delivering lifesaving
healthcare shipments and COVID-19 vaccines. As outlined in the
report, FedEx employs more than 375,000 U.S. team members
across 50 states and territories. This represents a 9.4 percent
increase in employment in 2020, despite 870,000 U.S.
transportation sector jobs lost in the same timeframe. While many
sectors were forced to cut jobs, FedEx continued to hire and even
increased wages for its employees. FedEx also helps support an
additional 400,000 jobs through its supply chain.
“While the numbers are compelling, behind the statistics are
real benefits and expanded opportunities in the daily lives of
FedEx team members and their families, entrepreneurs, small
businesses, and communities from coast to coast,” said Raj
Subramaniam, President and COO, FedEx Corporation. “We remained
steadfast when it mattered and helped our customers large and small
adapt when the U.S. economy was upended during the pandemic. FedEx
was successful in its efforts to create reliable, quality job
opportunities, foster wide-reaching economic growth, and provide
relief to businesses and the communities we serve.”
Delivering to every ZIP code in the U.S. and serving as a
critical conduit between U.S. businesses and customers around the
world, FedEx now delivers more than 19 million shipments a day
worldwide. The report goes on to detail the company’s role in
fueling innovation, creating and supporting local jobs, and helping
lift individuals and their communities in 10 major markets across
the country.
Key Findings:
- As of April 2021, the FedEx supply chain consisted of
166,000 direct suppliers in the U.S., who employ more than
6.1 million people and generate an estimated combined
$115 billion in annual revenue.
- On average, the company spends about $40 billion each year
with its U.S.-based supply chain partners of which ~70 percent
are small businesses, as defined by the Small Business
Administration.
- In 2020, FedEx added 44 new facilities throughout the
country, bringing its U.S total to more than 4,200
facilities. This increase in facilities created quality job
opportunities and boosted national and local economic growth. FedEx
investments in facilities, equipment, and infrastructure directly
correlate to economic growth.
The report shows how FedEx contributes to the communities where
its team members live and work through charitable contributions and
direct efforts to deliver a more sustainable future. From Fiscal
Year 2019 through Fiscal Year 2021, the company donated more than
$160 million in direct charitable contributions as well as
support for communities and non-profit organizations through other
avenues. It also shows how the company is committed to connecting
the world responsibly, through its stated goal of carbon-neutral
operations by 2040 and pursuit of investments in renewable energy
to power its operations.
Read the full FedEx U.S. Economic Impact Report and explore the
FedEx Effect in communities throughout the country at
fedex.com/economicimpact.
About FedEx
FedEx Corp. (NYSE: FDX) provides customers and businesses
worldwide with a broad portfolio of transportation, e-commerce and
business services. With annual revenue of $87 billion, the company
offers integrated business solutions through operating companies
competing collectively, operating collaboratively, and innovating
digitally under the respected FedEx brand. Consistently ranked
among the world's most admired and trusted employers, FedEx
inspires its 560,000 team members to remain focused on safety, the
highest ethical and professional standards and the needs of their
customers and communities. FedEx is committed to connecting people
and possibilities around the world responsibly and resourcefully,
with a goal to achieve carbon-neutral operations by 2040. To learn
more, please visit about.fedex.com.
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