Economy
The Forgotten Shipping Pallet Stages a Pandemic-Era Rally
After carrying the weight of the global economy since World War II with little fanfare, the lowly shipping pallet is finally commanding some respect.
Demand for the platforms used to haul nearly every consumer good or industrial ingredient is soaring amid a surge in e-commerce, forcing retailers and manufacturers to expand warehouses or pile inventories higher. At the same time, two keys to production — cheap lumber and labor — are scarce, and even nail costs are rising.
744,000 Americans file for first-time jobless benefits
The number of Americans filing first-time unemployment benefits unexpectedly rose last week, according to the Labor Department.
Data released Thursday showed 744,000 Americans filed first-time jobless claims in the week ended April 3. Analysts surveyed by Refinitiv were expecting 680,000 filings. The previous week’s total was revised higher by 9,000 to 728,000.
Continuing claims for the week ended March 27, meanwhile, fell to 3.734 million from the prior week’s downwardly revised 3.75 million. Economists had expected the number of continuing claims to decline to 3.65 million.
More Plants At GM Go Dark As Chip Shortage Continues To Bite
General Motors will temporarily shut down two more plants as automakers continue to struggle with major supply chain disruptions, particularly in computer chips.
The company will idle its plant in Spring Hill, Tennessee, for one week and Lansing Delta Township, Michigan, for two weeks. They’re the lastest in the long list of North American auto plants going dark because of the ongoing chip shortage, causing temporary layoffs for workers and cutting into the supply of new vehicles.
New survey shows a third of remote workers may quit if called back to the office full-time
As COVID-19 vaccinations have ramped up, many companies have laid out plans to bring their employees back to the office. However, a new survey of more than 1,000 U.S. workers finds that they may not want to readily give their current work lifestyle up.
The study, conducted by global staffing firm Robert Half, shows that about 1 in 3 professionals (34%) currently working from home due to the coronavirus pandemic would look for a new job if required to return to the office full-time.
‘Satan Shoes’ to be recalled as Nike agrees to settle lawsuit
Nike says the art collective which made “Satan Shoes” that purportedly contain a drop of human blood in the soles has agreed to issue a voluntary recall as part of a legal settlement.
The $1,018 (£740) trainers are modified Nike Air Max 97s. Only 666 pairs were made and all but one have been shipped. The collective MSCHF will offer full refunds to customers in order to remove the shoes from circulation, Nike said.
The U.S. government approved trillions in aid. Many hard-hit families have yet to receive it.
Luna Steeple and her 65-year-old mother are a day or two away from being kicked out of the motel where they have been living outside Detroit. Her mom lost her job in the pandemic. Their savings are gone. Their bank account has 12 cents in it. They aren’t sure when they will eat next. Their lifeline was supposed to be President Biden’s stimulus payment, but the $2,800 still hasn’t arrived.
“I feel like such a piece of crap asking people for money all of the time, but I don’t know what else to do,” said Steeple, who is disabled. “If it wasn’t for some friends and even strangers on Twitter, we would be on the street right now.”
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The post Daily Digest 4/8 – The Forgotten Shipping Pallet Stages a Pandemic-Era Rally, More Plants At GM Go Dark As Chip Shortage Continues To Bite appeared first on Peak Prosperity.
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