Supply Chain affecting workforce requirement.
- JC Penny hopes to slash labor needed to process transaction in store with RFID, Wi-Fi, Mobile PO’s. this year might find reduction in process transaction labor force
- Labor strike in Hyundai’s plant at south Korea due to protest over late night shift will lead 40k loss car production. The strike followed by demand in wage hike. The strike might lead production shift to US factories, hence increase in demand of Contingent workforce due to temporary increase in production.
- Amazon.com rolling out new locker strategy in Urban Market at more than 50 location for their fulfillment process. Order can be picked directly from locker itself. This would affect present population of workforce in fulfillment process.
- The Empire State index fell below zero, sinking to negative 5.9 in August, worse than the 7.4 reading in July, according to the Empire State manufacturing survey released by the Federal Reserve Bank of New York, This is the first negative reading since last October
- The Empire State data are watched closely by investors and economists for insights into what the health of the nation’s manufacturing sector may be.
- Philadelphia has seen four straight months of negative growth in Manufacturing Index. Though August has slightly improved over July by less negative.
- The details of the Empire index were also weak.
- The index for the number of employees dropped slightly to 16.5 in August from 18.5 in July.
- The new orders fell to negative 5.5 from negative 2.7 in the prior month. Unfilled orders increased slightly to negative 10.6 from negative 13.6 in the previous month.
- The shipments indexes fell to 4.1 in August from 10.3 in the prior month.
- The prices paid index increased to 16.5 from 7.4 in July.
- Expectations of activity in the next six months were less optimistic.
- The future general business conditions index fell five points to 15.2, the seventh consecutive monthly decline