Diesel, Lumber, And Staffing News – January 2, 2019

National Average Diesel Price Per Gallon: $3.05

The oil market has experienced its worst loss since 2015.

Some analysts predicted that oil prices in 2018 would exceed $100 per barrel. But instead, Brent crude ended the year down 20%.

Factors such as the stock market plunge and the ongoing trade dispute between the U.S. and China caused many anxious investors to dump risk assets.

Framing lumber: $332

Panels/plywood: $363

During the last week of trading in December prices barely budged for either framing lumber or structural panel products.

Trader expectations of low activity during the holidays held true. Distributors and dealers purchased little more than absolutely necessary and are instead waiting to see how markets perform in January.

Minimum wage hikes are coming to more than 21 states in 2019. The changes are projected to affect 17 million workers.

“Minimum wage workers need the higher wages to allow them to meet their basic needs,” said Yannet Lathrop, researcher at the National Employee Law Project.

Here are the states that will be raising their minimum wages in 2019. Some states have additional wage changes for large versus small employers, or based on the business’ location within the state.

Arizona
Rising from $10.50 to $11

California
Rising from $10.50 to $11 (or more, depending on business size)

Colorado
Rising from $10.20 to $11.10

Maine
Rising from $10 to $11

Massachusetts
Rising from $11 to $12

Missouri
Rising from $7.85 to $8.60

New York
Rising from $10.40 to $11.10 (or more, depending on location and business size)

Washington State
Rising from $11.50 to $12

Alaska
Rising from $9.84 to $9.89

Arkansas
Rising from $8.50 to $9.25

Delaware
Rising from $8.25 to $9.25

Florida
Rising from $8.25 to $8.46

Minnesota
Rising from $7.87 to $8.04 (or more, depending on business size)

Montana
Rising from $8.30 to $8.50

New Jersey
Rising from $8.60 to $8.85

Rhode Island
Rising from $10.10 to $10.50

South Dakota
Rising from $8.85 to $9.10

Vermont
Rising from $10.50 to $10.78

Michigan
Rising from $9.25 to $9.45

Oregon
Rising from $10.50 to $11 (or more, depending on business size)

Ohio
Rising from $8.30 to $8.55

Sources: Random Lengths, EIA, CNBC (1), CNBC (2)

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