NAM: Manufacturing Employment Increases By 60,000 In October Manufacturing employment jumped by 60,000 in October, and total employment in the sector has risen 298,000 year to date in 2021, putting it on track for the best annual job growth since 1997, according to Chad Moutray, Ph.D., and Chief Economist at the National Association of Manufac- turers (NAM). There remained 270,000 fewer manufactur- ing employees relative to pre-pandemic levels. The average hourly earnings of production and non- supervisory workers in manufacturing rose to $24.22 in October, with a 5.4 percent increase over the past year, the fastest wage growth since August 1982. Nonfarm payroll employment increased by 531,000 in October, and the unemployment rate dropped to 4.6 per- cent. The labor force participation rate was unchanged at 61.6 percent for the month. The ISM Manufacturing Purchasing Managers’ Index decreased from 61.1 in September to 60.8 in October. De- mand cooled somewhat but remained solid. Supply chain disruptions, logistics challenges, workforce shortages and soaring costs have dampened demand. New orders for manufactured goods rose 0.2 percent to a record $515.9 billion in September, albeit at a slower pace. Excluding transportation equipment, manufacturing CONTINUED ON PAGE 8
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month September 2021
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
www.boardconvertingnews.com
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November 15, 2021
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