Construction Forecast (CONT’D FROM PAGE 28)
Board Converting NEWS INTERNET DIRECTORY
necessarily of the same magnitude as a year ago,” said Basu. “The number of available unskilled job openings has shrunk, particularly in construction, thanks to a slowing economy, so hiring has slowed. Residential contractors in particular appear to be looking for fewer workers.” Softening employment growth has given workers less bargaining power, so employers are experiencing some much-needed relief from the rising trendline of worker wages. Entry-level hourly wage increases came to 3.7 percent in 2024 at Palisin’s member companies, mark- edly lower than the vigorous 8 percent-10 percent levels clocked for each of the previous two years. (Historically, such increases have tended to settle in the 2.5 percent to 3.0 percent range).
CORRUGATED REPLACEMENTS, INC. www.corrugatedparts.com
Corrugated Replacements, Inc. is a production powerhouse that manufactures high quality machine parts and replace- ment parts for the corrugated and paperboard converting industries. CRI can redesign, engineer, and manufacture any part while providing a rapid turn-around rate, keeping machines running at their peak performance and limiting down time.
C.U.E., INC. www.AnvilCovers.com
Makers of single and dual-width Timesaver® Anvil Covers, the premier urethane anvil cover for corrugated die cutting. Timesaver® covers feature construction of solid steel back- ing and solid steel locking components to ensure a precise fit every time. C.U.E., Inc. also offers Dura-Latch and Cor- Lock anvil covers, and urethane Lead Edge Feed Wheels.
EMBA www.embausa.com
The EMBA group supports a complete line of corrugated converting machinery for the worldwide market. EMBA’s Quick Set technology enables the highest productivity across a broad range of converting equipment, from mini to super jumbo. EMBA also includes the McKinley jumbo line of flexo folder gluers and rotary die cutters as well as ser- vice, rebuilds and upgrades for both EMBA and McKinley.
National figures concur. “The Employment Cost Index (ECI) is slowing,” said Hoyt, referring to a common mea- sure of average worker wages. “We are forecasting 2.8 percent growth in 2025, compared to 3.9 percent in 2024 and 4.5 percent in 2023.” Despite the ongoing de-escalation in the ECI, Hoyt said it remains healthy enough to support consumer spending, as does the expected increase in the nation’s total per- sonal income level, an important driver of business activ- ity. Like the ECI, it is expected to follow a familiar 2025 trendline: a healthy increase despite de-escalation. “Main- ly because of slower job growth, we have the increase in wage and salary income slowing to 4.5 percent in 2025, compared to our expectation of 4.8 percent for 2024, and 5.9 percent for 2023,” said Hoyt. Maybe it’s a looser labor market, but employers are in no hurry to trim their employee rosters. “Employers want to maintain their ability to jump on the growth side once the economy rebounds a little,” said Hoyt. “So employ- ment levels have held fairly steady.” Supply Chains Construction companies will benefit from a nation- al commitment to reposition supply chains in the United States. “Logistical issues are persuading many CEOs to place production closer to final consumers,” said Basu. “There is also a trend toward favoring nations that provide CONTINUED ON PAGE 32
EAGLEWOOD TECHNOLOGIES, LLC www.eaglewoodtech.com
Eaglewood Technologies offers trusted cleaning technolo- gies for the world’s best printers and converters. Solutions include the award winning Sitexco+ Anilox Laser System, the Nanovis Parts Washing System, the Sitexco L10 Label System, the innovative Sanilox™ System or Alphasonics solutions. We also offer Xpress™ mobile cleaning service at your facility or ours. ESKO www.esko.com ArtiosCAD and Kongsberg are the most trusted names in CAD/CAM solutions. Esko’s ArtiosCAD is the most widely used CAD software in the world. Esko’s Kongsberg series of tables brings you reliable, outstanding quality for sample- making and short run production.
DOMINO www.dominodigitalprinting.com
Domino is a leading manufacturer and distributor of digital printing and product identification solutions. Celebrating its 44th year, Domino is headquartered in the UK and North America headquarters are Illinois. Domino has 25 subsid- iaries, representation in over 120 countries, and over 2,900 employees worldwide .
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October 21, 2024
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