Alex Davies reports on a new study which concludes that the age of driving in America is over.
It just so happens that fresh data on monthly motor vehicle miles driven is out today, and with that data we can compare total US monthly vehicle miles against the US population.
As you can see, per capita miles driven peaked just before the recession, and hasn’t recovered at all.
FREDDoes this chart look familiar to you?
It reminds us of the chart of the labour-Force Participation Rate (the share of workers working or looking or work), which also started sliding before the recession, and hasn’t stopped sliding at all during the recovery.
FREDThere’s a logical connection between the two. Not in the workforce? You’re less inclined to drive.