Diesel, Lumber, And The State Of Staffing – December 19, 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: $2.901

Global oil prices rose to $64 per barrel due to supply disruptions in Europe. But petroleum output in the United States continues to rise, which put a cap on prices.

U.S. shale production is projected to rise to record highs in January. High global oil prices – caused by a North Sea pipeline outage and supply cuts by OPEC – is encouraging American producers to increase pumping.

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


 Lumber Price Tracker

Random lengths – framing lumber: $431

Random lengths – panels/plywood: $426

This week trading in framing lumber products was slow, as is to be expected for the winter season. However it was slightly more active than usual for this time of year.

Structural panel products also saw surprisingly brisk trading, more so than an average December. Inventories are “lean,” leading to tighter supplies.

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

 


Staffing & Job Market News

A strong economy and low unemployment continues to push job growth.

A number of industries have increased hiring. Manufacturing added 31,000 jobs last month, while construction added 24,000.

Temporary labor services added 18,300 jobs. Employers often bring on temporary workers before converting them to permanent positions, so this development should continue to keep the unemployment rate at record lows.

 

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About the Author: Brinna Deavellar is a staffing and marketing professional at Spec On The Job. To send Spec a message or to get daily updates on the latest jobs, follow us on Facebook.

 

 


Sources: Random Lengths, EIA, CNBC, CNN Money