The private sector experienced a significant uptick in job creation in March, marking the fastest pace of growth since July 2023, as reported by ADP. "March was surprising not just for the pay gains, but the sectors that recorded them," said ADP chief economist Nela Richardson. "Inflation has been cooling, but our data shows pay is heating up in both goods and services."

Craig Webb, president of Webb Analytics, and MDM's Mike Hockett discuss the implications of Home Depot's $18.25 billion acquisition of building materials distributor SRS Distribution on the latest MDM podcast. Webb sees the move as a game-changer for the retail giant, which can now expand into roofing, pool supply and landscaping to become a one-stop-shop for contractors. Webb also noted SRS' credit risk management and delivery capabilities as attractive assets for Home Depot.

Electrical products distribution giant Sonepar continued its expansion plans with the acquisition of Ontario's Electrozad, an authorized distributor of Rockwell Automation. The Electrozad deal is expected to strengthen Sonepar's presence in southern Ontario. Last month, Sonepar acquired two Michigan-based distributors with 36 locations.

The Francis Scott Key Bridge collapse in Baltimore, which closed a portion of Interstate 695, has become a logistical nightmare for the distribution industry scrambling to reroute consumer goods, automobiles, coal and other shipments. The impact of the disruption is valued at $1.7 billion per week, with truckers rerouting through the city and East Coast ports handling diverted cargo as the channel clearing effort is expected to take months.

A Salesforce report found that 82% of HR leaders emphasize the importance of job candidates' skills instead of degrees, with 40% naming digital abilities as the top quality. Skills-based hiring benefits workplace diversity, employee retention and sharing of knowledge, people leaders suggested in the report.

Generative AI is poised to transform content strategy for business-to-business marketers with its ability to deliver real-time, accurate audience intelligence to inform creative thinking, writes Phyllis Davidson, vice president and principal analyst at Forrester. The technology's not quite there yet, but B2B marketers should prepare by reviewing customer data models and embracing generative AI within content operations, Davidson advises.

Being blind to personality traits -- such as being a "cowardly lion" who acquiesces to others, or the bully who gets their way through fear or the loyalist who lets friendship cloud their judgment -- can undermine your leadership effectiveness, writes Susan Lucia Annunzio, the president and CEO of the Center for High Performance. "Leaders must cultivate self-awareness, actively seek feedback, and be willing to address their weaknesses," Annunzio advises.

Recent instances of hotter-than-expected inflation don't "materially change the overall picture," says Federal Reserve Chair Jerome Powell, who indicates that interest-rate cuts are still likely this year. However, Powell says "we do not expect that it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down toward 2%."

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The NAW Company Roundtables are an exclusive community of thought leaders from Billion Dollar and Large Company distribution enterprises who congregate to network with non-competing peers in multiple lines of trade on key issues. Learn more about the many Roundtable event opportunities we offer, and how your leaders can get involved. Learn more.

Join us on May 22 at 1 pm ET for the next webinar in our "How-to with NAW" series. Each episode is a micro-revolution for your distribution business, delivering practical takeaways and actionable steps you can implement immediately.