Diesel, Lumber, And The State Of Staffing – December 12, 2017

The weekly changes in the price of diesel and lumber give a quick snapshot into the state of staffing in the construction and distribution industries.

Diesel Price Tracker

Diesel prices give a snapshot of the state of staffing in the trucking industry

National Average Price Per Gallon: $2.910

Globally, oil prices have jumped to their highest level in more than two years. High prices in Europe are the result of a pipeline shutdown in the North Sea, and an explosion at Austria’s main gas transfer hub.

In the United States, though, diesel prices fell slightly. The national average price is down to $2.910, compared to $2.922 last week.

Lower prices in the U.S. are the result of rising domestic production. National output has jumped to 9.71 million barrels per day, which is one of the highest levels since the early 1970s.

Diesel prices give a snapshot of the state of staffing in the trucking industry


 Lumber Price Tracker

Random lengths – framing lumber: $434

Random lengths – panels/plywood: $427

Trading in framing lumber products remains weak. The only exception was the price of Green Fir, which saw demand outstripping supply.

Meanwhile, trading in structural panels gained some traction this week. Prices of individual products stabilized in most regions, and mill prices held steady.

Lumber prices give a snapshot of the state of staffing in the trucking industry

 


Staffing & Job Market News

The Bureau of Labor Statistics released its monthly jobs report on December 8.

According to the Bureau, the number of people unemployed remains “essentially unchanged at 6.6 million.”

The average wage rose to $26.55. This is 64 cents higher than it was a year ago.

White House Press Secretary Sarah Sanders said, “We’re especially pleased to see the manufacturing sector roaring back to life, adding a total of 159,000.”

 

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Sources: Random Lengths, EIA, CNBC, Bureau of Labor Statistics