NAM: Manufacturing Layoffs Fell To Lowest Levels Since February 2017 According to the National Association of Manufacturers (NAM), there were 456,000 manufacturing job openings in September, pulling back somewhat from the 469,000 postings in August, which was the best reading since July 2019. Overall, there were 1.95 unemployed workers for ev- ery one job opening in September, down from 4.6 in April but up from 0.8 in February. Encouragingly, non-farm business layoffs decreased from 1,533,000 in August to 1,333,000 in September, an all-time low. Meanwhile, layoffs in the manufacturing sec- tor declined from 102,000 to 90,000, the lowest since February 2017 and well below the 635,000 layoffs in April. One sign of improved health is the “churn” seen in the labor market, and the number of quits has rebounded in recent months. This is also reassuring. Non-farm payroll quits rose from 2,839,000 in August to 3,018,000 in Sep- tember, the most since February, and manufacturing quits edged up from 207,000 to 212,000, a one-year high. Producer prices for final demand goods increased 0.5 percent in October, the strongest monthly gain since July, boosted by sizable increases in energy and food costs. Yet, inflation for raw material goods was flat in October. Overall, core producer prices have risen 0.9 percent year- over-year, the highest since March.
Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month October 2020
Year
Actual
Percent Change Avg Week Percent Change
2020 2019
37.396 35.888
4.2
8.499 7.802
8.9
Industry Total
Year-to Date
October 2020
Year
Actual
Percent Change Avg Week Percent Change
2020 2019
337.942 330.090
2.4
7.933 7.785
1.9
Industry Total
Containerboard Consumption (Thousands of Tons)
Year
Month
Percent Change Year-to-Date Percent Change
2020 2019
3.0635 2.9470
4.0
27.6535 27.1498
1.9
Container Board Inventory - Corrugator Plants (Thousands of Tons)
Corrugator Plants Only
Date
Percent Change Weeks of Supply
Percent Change
Oct.
1.8156 1.9511
-6.9
2.6 2.9
-10.3
Sept.
Shipping Days
Year
Month
Year-to-Date
2020 2019
22 23
213 212
SOURCE: Fibre Box Association
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