NAM: ‘Great Resignation’ (CONT’D FROM PAGE 6)
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month September 2021
month with solid growth. There were 349,000 workers added in the sector in 2021, the most since 1994, but there remained 219,000 fewer manufacturing employees in De- cember relative to pre-pandemic levels. Average hourly earnings of production and nonsuper- visory workers in manufacturing increased 0.5 percent to $24.33 in December. That represented a 5.2 percent in- crease over the past 12 months, the fastest year-over-year rate of wage growth in the sector since September 1982. Meanwhile, nonfarm payroll employment increased by just 199,000 in December, down from 249,000 in Novem- ber and the slowest monthly gain in 12 months. Nonethe- less, the unemployment rate dropped to 3.9 percent in December, a post-pandemic low. The ISM® Manufacturing Purchasing Managers’ Index declined from 61.1 in November to 58.7 in December, ex- panding at the slowest pace since last January. Even with some easing, new orders and production ended the year with solid growth, and hiring rose at the fastest rate since April. Measures of delivery times and cost pressures con- tinued to reflect a challenging environment New orders for manufactured goods rose 1.6 percent to a new record level in November. Overall, the manufactur- ing sector continues to expand strongly—despite lingering supply chain, workforce and pricing pressures—with new orders soaring 13.6 percent year to date.
Year
Actual
Percent Change Avg Week Percent Change
2021 2020
34.261 34.901
-1.8
8.157 8.310
-1.8
Industry Total
Year-to Date
September 2021
Year
Actual
Percent Change Avg Week Percent Change
2021 2020
312.632 300.767
3.9
8.227 7.873
4.5
Industry Total
Containerboard Consumption (Thousands of Tons)
Year
Month
Percent Change Year-to-Date Percent Change
2021 2020
2.7786 2.8459
-2.4
25.4959 24.5672
3.8
Container Board Inventory - Corrugator Plants (Thousands of Tons)
Corrugator Plants Only
Date
Percent Change Weeks of Supply
Percent Change
Sept.
2.312
3.8
3.5 3.4
2.9
Aug
2.2272
Shipping Days
Year
Month
Year-to-Date
2021 2020
21 21
190 191
SOURCE: Fibre Box Association
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