US job openings dropped to 7.67 million in July, the lowest since early 2021, as layoffs increased, according to the Job Openings and Labor Turnover Survey. The latest data signals continued cooling in the labor market as demand for workers decreases.
US factories continued to show signs of a slowdown in August, raising concerns about the economic outlook. The Institute for Supply Management reported that 47.2% of purchasing managers saw expansion, slightly up from July but below expectations. "Demand continues to be weak, output declined and inputs stayed accommodative," said Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee. "Demand remains subdued, as companies show an unwillingness to invest in capital and inventory due to current federal monetary policy and election uncertainty."
Houston-based DXP Enterprises, an industrial supplies and pumping solutions distributor, has acquired Hartwell Environmental Corp., a manufacturer of pumps, controls and process equipment based in Tomball, Texas. The deal enhances DXP's presence in the water and wastewater markets in Texas and Oklahoma and was completed Sept. 1.
Key labor meetings by the International Longshoremen's Association this week could determine the potential for a strike at East Coast and Gulf Coast ports starting Oct. 1. The ILA's contract expires at the end of the month, and negotiations with the US Maritime Alliance have stalled over the use of automated technology by port operators. Companies are already shifting freight to West Coast ports to mitigate potential disruptions, but a strike could heavily impact US trade and logistics.
AI implementation in supply chains, particularly in the life science sector, is fraught with challenges such as data overload, fragmented signals and human instinct-driven escalations, writes Mark Talens with PSC. Talens recommends focusing on actionable insights and leveraging AI and machine learning to integrate supply chain data for better decision-making.
Industry stakeholders have until Dec. 30 to submit comments on OSHA's proposed heat-protection rule that would require employers to implement an injury and illness prevention plan to protect workers from hazardous heat exposure. OSHA notes that heat is a leading cause of weather-related deaths in the US, and while various organizations have provided guidance on workplace heat hazards, there is no federal OSHA standard specifically addressing heat stress.
Storytelling, hyper-personalization, data analysis and integration are four strategies business-to-business marketers should adopt from consumer-focused marketing -- lessons exemplified by a humorous 2014 ad from Adobe that not only entertained but resonated with audiences, writes Karna Crawford, chief marketing officer of Marqeta. "Can a business laugh, be moved to tears, or feel excitement? No, but the people who work there and buy their services can be," Crawford writes.
Older Americans are increasingly putting off retirement, which could cause career gridlock for Gen Z and Millennial workers. A 2023 survey by the Employee Benefit Research Institute found 33% of workers plan to retire at age 70 or older, up from 26% in 2021. Career experts warn that this trend can stall younger workers' earning potential and delay major life milestones.
Managers may prefer in-office employees simply due to a lack of training on managing hybrid workforces, writes Gleb Tsipursky, CEO of Disaster Avoidance Experts, who notes that only 10% of managers received mandatory training for hybrid work environments. "When managers are equipped with the right tools and training to lead hybrid teams, employees benefit from a more structured and supportive work environment," Tsipursky writes.
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.
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The National Association of Wholesaler-Distributors (NAW) is one of America’s leading trade associations, representing the $8 trillion wholesale distribution industry. Our industry employs more than 6 million workers throughout the United States, accounting for approximately 1/3 of the U.S. GDP. 250,000 wholesale distribution companies operate across North America, including all 50 states. Learn more.
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