US trade deficit jumped 23% in March | Initial jobless claims reach highest level since 2021 | Performance Food delivery trucks to use Hyzon fuel-cells
The US trade deficit widened by 23% to $74.6 billion in April, the biggest jump since April 2015, raising concerns among economists that trade could trim as much as 2.5 percentage points from GDP in the second quarter. However, revised March data showed the trade gap had narrowed to $60.6 billion instead of $64.2 billion, leading economists to predict that the Q1 GDP growth estimate could be revised as high as a 2.3% annualized rate when the government publishes its third estimate this month.
First-time unemployment claims increased by 28,000 last week to 261,000, according to Labor Department data. The increase is the largest since July 2021, and the 261,000 total is the highest since October 2021. The data shows layoffs might finally be taking a toll on the workforce, but the labor market remains strong, and continuing jobless claims remain low.
Performance Food Group will be upgrading five electric trucks with Hyzon Motors' hydrogen fuel-cell systems in 2023 and 2024 for use in commercial delivery in Southern California. Depending on the success of the pilot project, 15 additional vehicles will be upgraded with the systems, with the option of as many as 30 fuel-cell EVs in the future.
Shipping containers are stacked at the Port of Los Angeles. (Mario Tama/Getty Images)
The number of vessels awaiting entry into the ports of Los Angeles and Long Beach has been steadily increasing during the past couple of months, which "indicates we've broken past the 'normal' and are back into a stressed maritime supply chain," says Captain Adil Ashiq, MarineTraffic's head of North America. Experts attribute the recent rise in delays to labor issues and shortages at ports, and trade groups continue to call on the Biden administration to step in.
Supply chain volatility today comes in never-ending waves of unpredictable heights, and for most companies this means letting procurement help steer the ship, Keith Hartley of LevaData writes. "As they do, we'll see procurement evolve from transactional firefighter to a more strategically important role ... as a valued business partner and growth engine who brings along some amazing digital tools," adds Hartley.
Providing communication training to your staff can pay off for the individuals involved as well as your business. Through communication skills, people can become better leaders, build their network of resources, increase their negotiating tactics and improve how they present themselves in public.
Recognizing that productivity is about the results rather than the volume of work -- the 100 responses, not the 2,000 emails -- sales consultant David Brock writes. Productivity requires developing a synergy between the customer's and seller's processes by recognizing the buyer's motivations and goals, mapping the route to them and then showing how the product or service achieves each aspect.
The California Assembly has passed a bill to prohibit autonomous trucks weighing more than 10,000 pounds from operating on public roads without a driver onboard. The bill, backed by the Teamsters, now moves to the state Senate.
The best leaders adhere to four ethical principles: integrity, fairness, accountability and transparency, says retired Rear Admiral Margaret "Peg" Klein, a professor of ethics and leadership at the US Naval War College. "Ethical leaders not only hold themselves to these high standards, but they hold others around them to the same," Klein says.
Business leaders can energize their workers by being self-assured in pursuing change, writes Leigh Burgess, CEO of Bold Industries Group. "Leaders who are bold are not afraid to take risks and make tough decisions -- even if it means facing uncertainty and potential failure," Burgess writes.
