FMN | May 25th, 2020

Manufacturing (Cont’d from Page 13) the continued issuance of CARES Act relief checks. Final data will be released on May 29. Weekly Initial Unemployment Claims : There were 2,981,000 initial unemployment claims for the week ending May 9, down from the 3,176,000 claims added for the week ending May 2. Since peaking at 6,867,000 for the week ending March 28, initial claims have decelerated,which is encouraging, but these con- tinue to be heartbreaking and unprecedented levels. Over the past seven weeks, 36,471,000 Americans filed for unemployment insurance, illustrating dire conditions in the labor market as the COVID-19 crisis has taken hold. California, Florida, Georgia, New York, Texas and Washington each had at least 100,000 ini- tial unemployment claims in the latest week, with 14 states having new claims that exceeded 50,000. (Con- necticut later reported that it had over-reported its ini- tial unemployment claims, which were 29,868 instead of 298,680 as stated in this release.) Meanwhile, continuing claims increased from 22,377,000 for the week endingApril 25 to 22,833,000 for the week ending May 2 in this report, a new all- time high.The latest figure suggests that 15.7 percent of the workforce received unemploym nt insurance that week, a rate that will continue to increase substan- tially given the initial claims data.

The unemployment rate could peak around 20% to 22 percent this month before starting to fall.The fore- cast is for the unemployment rate to be 9 percent to 10 percent by year’s end—a shocking turn of events in the labor market following February’s 50-year low, which registered 3.5 percent. Annual EFIA Print Awards Move Online The Board of the European Flexographic IndustryAs- sociation (EFIA) has announced that its annual awards event will now be held online on September 17th 2020, rather than at the planned location in York, due to the ongoing Coronavirus situation. “All Gala event tickets sold are now valid for next year’s event,”DebbieWaldron-Hoines, Consultant CEO, “which I’m delighted to announce will be held on Thursday May 20th 2021, at the original planned loca- tion of York Railway Museum.”

Labelexpo/Brand Print Americas Postponed

Labelexpo/Brand PrintAmericas has been postponed and new dates will reportedly be announced by the end of May.

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Executive Outlook

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Anderson & Vreeland · ARC International · Bobst BST North America · DuPont · FLXON · Mark Andy Nilpeter · Uteco · Windmoeller & Hoelscher

Flexo Market News May 25, 2020 15

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