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News from Worker Development, Industry, the Economy, Education, Science, and much more! |
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Appreciating the Value of Labor |
by Dean Prigelmeier, President of Proactive Technologies, Inc.
For expanding and improving businesses that have the capital for the investment in new equipment or processes, attempting to become or remain competitive, the level of investment is not as important as the return on that investment. This consistent practice of determining where to best place capital for the highest return should apply to labor. What is “paid” for labor is not as relevant as the value it adds to the operation and, ultimately, profit; the return on worker investment.
The lack of appreciation for the difference between a “training cost” and a "training investment” is understandable because it is rarely contrasted. The college textbook entitled Financial Accounting: An Introduction to Concepts, Methods and Uses, defines “direct labor cost” as the “Cost of labor (material) applied and assigned directly to a product; contrast this with indirect labor cost.” Indirect labor cost” is defined as, “An indirect cost of labor (material) such as supervisors (supplies).” There is no mention of an expected return on investment. Generations of cost accountants have been taught that there is no good that comes for higher labor costs, which to them is determined by the level of staffing and wage levels. There is no differentiation between strategic labor costs and uncontrolled labor costs.
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The profit from, and value of, most worker’s labor comes from task-based work, so all inputs that drive workers to high-performance, high-capacity output are investments.
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As discussed in many articles in past issues of the Proactive Technologies Report, although labor costs are considered direct costs from an accounting standpoint, they should be more importantly considered as an investment in the operation’s overall level of competitiveness. Operations may vary as to the level of return on investment from labor, but each worker’s cumulative expertise gained while employed becomes an asset to the operation akin to intellectual property and, therefore, wages and compensation paid to develop a worker are an investment. Read More
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Have Advances in Technology Distracted HR From the Fundamentals of Worker Selection and Development? |
by Stacey Lett, Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
Billions of investment dollars are driving the advancements in technology into every corner of our lives, including the selection and development of workers. Predictably, the emphasis often seems more on the technology and the money it can make for investors than the practicality for the end-user or those it effects.
It is not just the refrigerators that talk to your grocery store, or watches that talk to the phone in your pocket. Wall Street, with an accumulating mountain of cash, can drive any idea to fabricate a “trend” that often dissipates as quickly as it emerges, sometimes leaving disruption in the wake but yields a return for investors. For investors it is the means to an end. To many, it may negatively affect their life and their future.
In the 1990’s, investors started to look at the National Security Agency’s and Central Intelligence Agency’s “ key-word search” capabilities used to scan millions of documents from around the world for specific words and phrases to expand their intelligence gathering reach. They saw applications of this technology in the civilian world, including scanning the mounds of resumes and employment applications employers had to filter in order to find a few new-hires. On the surface, this seemed to be a godsend.
Soon employers and employment candidates saw what the developers of this technology did not. The technology first had to count on employers having accurately designed job descriptions in consistent formats, using standardized terms, words and phrases to describe pre-hire knowledge, experience, skills and abilities of interest. The fact was reality couldn’t have been farther from this, with job descriptions written 50 years prior, written precisely for someone the employer wanted to hire (not so reflective of the actual job requirements), or cut & pasted from a handy library resource. Read More
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More Employers Finding Ways To Strategically Ensure Fair Pay |
by Stacey Lett, Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
In an article appearing in IndustryWeek entitled “ Trying to Ensure Fair Pay, Employers Are Changing Policies,” it noted that according to a recent employer survey “2018 Getting Compensation Right,” “60% of U.S. employers are planning to take some action this year to prevent bias in hiring and pay decisions.” Further, 53% “are planning on or considering adding a recognition program.”
The report went on, “37% percent are planning on or considering changing criteria for salary increases. Among employers not redesigning their programs, most are making changes to the importance of factors used to set base pay increases.”
In short, the report led one to believe that employers overall wanted to make pay fairer, but one got the impression that there was no clear path. It is difficult in this environment to talk about raising workers wages without shareholders mounting a revolt. But with the reported shorted of skilled labor, the difficulty in training workers with a lean staff and no structure, strategy or record keeping, etc. an area of compromise has to be reached. If not, skilled workers will not apply, or stay, and the shareholder profits will definitely be affected. It is the “bullet that needs to be bit” to get the economy working like it did so well post World War II when everyone felt they had a chance at doing well for themselves and their family.
Developing each worker should be a linear process in spite of inputs from all direction. A person is selected based on closeness of fit with established criterion. The person is then trained on the units of work for which they will be responsible. Once proficient, the person routinely performs these tasks – evaluated at some point based on set criterion for their level of performance and, in some cases, compensation is assigned accordingly. Feedback on how to improve performance is given and additional incentivized development goals can be assigned to drive work performance even higher. Read More
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Balancing the Need to Raise Wages with the Need to be Competitive by Increasing Worker Value |
by Dean Prigelmeier, President of Proactive Technologies, Inc.
It is said employers are having a hard time finding workers. It may be due to some workers having time to think during the disruptions of the past few years and may be looking for jobs that are better aligned with their career goals. Some may still fear the status of the Covid-19 cases, and its variants, made confusing by the premature, incomplete and contradictory news reports. Some may want to return to work but are navigating the difficulties of child care and return to school policies that vary from district to district.
It appears employers have accepted that, for the short term at least and quite possibly the long-term, that they will need to reconsider their compensation structures if they are to attract the caliber of worker they need. Some feel that discussion is long overdue. Of course, raising wages and benefits is going to add to the cost of labor associated with production or services. If the shortage of supplies raising the costs of goods accelerate the reshoring of jobs to America, the competition for the best workers could get fierce.
For decades employers have been laxed in their need to develop the most productivity and worker capacity from their workforce. It became more a hunt for “bodies“ than for developing more skilled workers. Most employers like to think that their in-house programs for training workers, once hired, meets their needs, but scratching the surface in most cases proves that there is very little structure, no plan, there is no documentation, and no sense of purpose. For most employers, people are hired, they are paired up with one of the existing workers and, hopefully, the existing subject matter expert will transfer expertise to the new worker to a level that, one day, might be recognizable.
Some companies that are struggling with high turnover, and/or a surge of growth, see many of these workers can get lost in the shuffle. Some continue to hire more "bodies" who then wait for someone to train them to do something. Workers that could have been star performers are let go because there is no structured way to measure the outcome of the training process to anyone's satisfaction. Then again, many workers leave employers when they discover that there is no way to improve themselves in the job classification. Read More
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WELCOME SK FOOD GROUP!
Proactive Technologies, Inc. welcomes SK Food Group, one of North America’s leading custom food manufacturing companies. They operate nine state-of-the-art facilities across the US and Canada, and employ more than 2,000 associates. SK Food Group supplies handcrafted sandwiches, wraps, snacks, flatbreads, burgers, protein snacks and more to the most respected foodservice brands, neighborhood cafes and Fortune 500 companies.
In the US, the company has locations in Phoenix, AZ, Columbus, OH, Reno, NV, Minneapolis, MN, Tupelo, MS. As leaders in the industry, they take an active role in ongoing scientific testing and food production safety, with a commitment to product safety and integrity.
Proactive Technologies will be working with SK Food Group associates to set-up and implement structured on-the-job training programs for new-hires and incumbent workers for positions such as Maintenance Systems Technicians, Packaging Technicians and Quality Control - many of which to be registered as apprenticeships.
We look forward to working with the associates of SK Food Group!
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IN THIS ISSUE:
Proactive Technologies, Inc. Worker Development News
Industry News
Financial News
International News
International Trade News
Education and Workforce Development News
Training and Organizational Development News
Quality News
Science
Cyber and IT News
Human Resources Management News
Environmental, Health & Safety News
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Proactive Technologies, Inc.™ -
capturing worker expertise to build and support job specific, task-based worker development programs (with metric-based solutions) since 1986.
Experience the power of the
Develop all the expert workers you need in a fraction of the time, with a fraction of the investment! Increased worker capacity, work quality and quantity, and worker compliance (ISO9001:2015, AS9100D, IATF16949, engineering and quality specifications, and safety requirements)."
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Proactive Technologies' Publications Archive
While at our website, check out past newsletters, articles and more. Helping employers to unlock worker value since 1986!
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If interested in attending one of the presentations below, click on the title, then select a date/time and press "Send." An online presentation invitation and link will be sent to you. On the date and time of the event, just click on link in email invitation and it will connect you to the presentation. No special equipment required.
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Onsite and group presentations
are being scheduled for the following states, and a representative will be in your area, in the month of:
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Proactive Technologies is currently scheduling stops in the following areas:
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Contact Us to express your interest in an onsite or group presentation.
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U.S. Department of Commerce - Bureau of Economic Analysis |
Gross Domestic Product (Second Estimate) and Corporate Profits (Preliminary), First Quarter 2022
Real gross domestic product (GDP) decreased at an annual rate of 1.5 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021. The decrease was revised down 0.1 percentage point from the "advance" estimate released in April. In the first quarter, there was a resurgence of COVID-19 cases from the Omicron variant and decreases in government pandemic assistance payments. Profits decreased 2.3 percent after increasing 0.7 percent at a quarterly rate in the fourth quarter. Read Report
Personal Income and Outlays, April, 2022
Personal income increased $89.3 billion, or 0.4 percent at a monthly rate, while consumer spending increased $152.3 billion, or 0.9 percent, in April. The increase in personal income primarily reflected an increase in compensation. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 4.4 percent in April, compared with 5.0 percent in March. Read Report
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U.S. Department of Commerce - Bureau of the Census |
Advanced Report on Durable Goods Manufacturers’ Shipments, Inventories, and Orders
New orders for manufactured durable goods in April increased $1.2 billion or 0.4 percent to $265.3 billion. April 2022: +0.4° % change; March 2022 (r): +0.6° % change. Read Report
Manufacturers’ Shipments, Inventories, and Orders
New orders for manufactured goods in March increased $11.8 billion or 2.2 percent to $557.3 billion. March 2022: +2.2° % change; February 2022 (r): +0.1° % change. Read Article
Household Pulse Survey
What is the Household Pulse Survey?
The U.S. Census Bureau, in collaboration with multiple federal agencies, is in a unique position to produce data on the social and economic effects of coronavirus on American households. The Household Pulse Survey is designed to deploy quickly and efficiently, collecting data to measure household experiences during the coronavirus pandemic. Data will be disseminated in near real-time to inform federal and state response and recovery planning. Read Data
Small Business Pulse Survey
The Small Business Pulse Survey (Business Pulse) measures the effect of changing business conditions during the Coronavirus pandemic on our nation's small businesses. Business Pulse complements existing U.S. Census Bureau data collections by providing high-frequency, detailed information on the challenges small businesses are facing during the Coronavirus pandemic as well as their participation in federal programs such as the Paycheck Protection Program. Read Report
Monthly State Retail Sales
The Monthly State Retail Sales (MSRS) is the Census Bureau's new experimental data product featuring modeled state-level retail sales. This is a blended data product using Monthly Retail Trade Survey data, administrative data, and third-party data. Year-over-year percent changes are available for Total Retail Sales excluding Nonstore Retailers as well as 11 retail North American Industry Classification System (NAICS) retail subsectors. These data are provided by state and NAICS codes beginning with January 2019. The Census Bureau plans to continue to improve the methodology to be able to publish more data in the future. Access Tables
Economic Indicators
A composite of many of the requested domestic facts and figures. Visit Table
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U. S. Department of Labor Statistics |
Consumer Price Index
In April, the Consumer Price Index for All Urban Consumers rose 0.3 percent, seasonally adjusted, and rose 8.3 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.6 percent in April (SA); up 6.2 percent over the year (NSA). Read Report
Producer Price Index
The Producer Price Index for final demand increased 0.5 percent in April. Prices for final demand goods advanced 1.3 percent, and the index for final demand services was unchanged. Final demand prices moved up 11.0 percent for the 12 months ended in April. Read Report
Job Openings and Labor Turnover
Job openings, at 11.5 million, was at a series high on the last business day of March. Quits edged up to a series high of 4.5 million, while hires changed little at 6.7 million. Read Report
Unemployment Rate for States
Unemployment Rates for States, Seasonally Adjusted. Read Report
Job Creation - Employment Situation Summary
Total nonfarm payroll employment increased by 428,000 in April, and the unemployment rate
was unchanged at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Job
growth was widespread, led by gains in leisure and hospitality, in manufacturing, and in
Civilian Labor Participation Rate
For a 20 year chart of the U.S. Civilian Labor Participation Rate. Read Report
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Cornell Law School - U.S. Private Sector Job Quality Index |
U.S. Private Sector Job Quality Index
For December 2020 by the U.S. Bureau of Labor Statistics (BLS), the U.S. Private Sector Job Quality Index (JQI)® has been revised to a level of 81.24, down by 0.91% from its revised level one month earlier and reflecting a higher proportion - relative to the prior month - of U.S. production and non-supervisory (P&NS) jobs paying less than the mean weekly income of all P&NS jobs (“Low Quality Jobs”), relative to those jobs paying above such mean. The JQI remains heavily impacted by the extraordinary disruption in the number and composition of private sector production and non-supervisory jobs since the beginning of the U.S. impact of the COVID19 global pandemic, with regard to which the following additional special factors should be noted: Read Report
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A Small Business Is Doing Well, But Finding Workers Is Another Story |
IndustryWeek - Adrienne Selko
For the past 30 years, Hidaka USA, Inc. Inc, based in Dublin Ohio, has managed to not only navigate the ups and downs of a complicated business cycle, but it has thrived.
Established in 1989 as a supplier of prototypes, the company designs and manufactures steel and aluminum parts including prototypes, simple stampings and complex assemblies. Over the years it has expanded its workforce, equipment, technical expertise and infrastructure to support mass production demands.
As a result of its experience in the automotive and rail sectors, business is growing. “We have some large projects that will keep us busy for the next two years,” explains Diane Rosso, vice president - Administrations. “Finding employees is difficult.” Read Article
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Supply Chains Are Increasingly Volatile. Can Forecasting Keep Up? |
IndustryWeek - Rich Wagner
Advances in big data and cloud computing are improving the ability of AI to anticipate external forces and fluctuating market dynamics.
It’s no secret manufacturing is facing an increasing challenge from market uncertainty. Changing consumer behaviors, continued COVID lockdowns around the world and other disruptions are forcing manufacturers to stay 10 steps ahead.
Data-driven predictions and forecasts can even fall short, if they are based mostly or entirely on internal data. The Institute of Business Forecasting and Planning states that demand forecasts are off by a staggering 37% on average, resulting in excess safety stock, poorly timed promotions and market-share loss. Read Article
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ISM Report: US Manufacturing Performing Well Despite Stressors |
IndustryWeek - Ryan Secard
The ISM’s manufacturing PMI for U.S. manufacturing fell 1.7 points to 55.4%, indicating slower growth.
U.S. manufacturing continued to grow in April according to the latest figures from the Institute for Supply Management and IHS Markit, despite persistent pressure from ongoing issues like the labor shortage and high component prices. The ISM’s Purchasing Manager’s Index for U.S. manufacturing fell 1.7 points to 55.4%, while S&P Global (formerly IHS Markit) reported an increase of 0.4 points to 59.2%. Both reports were released May 2.
The two groups’ PMIs appear to differ based on their findings on manufacturing output. The S&P Global report noted that manufacturing output is at its fastest point in nine months, but the ISM found that high rates of turnover are keeping factories from hitting “optimum output rates,” and its Production index fell by 0.9 points to 53.6%. Read Article
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New York Amazon Workers Deal Setback to Union Drive |
IndustryWeek - Agence France-Presse
Sixty-two percent of workers at the Staten Island facility opposed the union push, with 618 employees voting no and 380 in support, according to results released Monday by U.S. officials.
Workers at an Amazon facility in New York have roundly voted against unionization -- dealing a setback to a burgeoning organized labor movement one month after a landmark win at a nearby warehouse.
Sixty-two percent of workers at the Staten Island facility opposed the union push, with 618 employees voting no and 380 in support, according to results released Monday by U.S. officials. Read Article
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LG Energy Solution to Invest $1.7 Billion in Battery-Component-Plant Expansion, Create 1,200 New Jobs |
Assembly Magazine
HOLLAND, MI—LG Energy Solution (LGES) has announced that it is investing $1.7 billion at its plant here to increase production of lithium-ion polymer battery cells and packs for EVs by fivefold. The expansion will create more than 1,200 new jobs.
The plant will make LGES' new long cell design batteries with improved energy density thanks to cutting-edge technologies that allow engineers to more fully utilize the space within the battery pack. These batteries are expected to advance EV’s driving range and ESS’s energy storage, and at the same time, simplify the overall structure of battery pack. Read Article
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JQI Edges Up With Small Increase in High-Quality Jobs |
Coalition for a Prosperous America
WASHINGTON — The Coalition for a Prosperous America (CPA) today announced that the U.S. Private Sector Job Quality Index (JQI) rose to 81.17 in March, up 0.91% from the previous month, reflecting a rise in both high-wage and low-wage jobs as the recovery from Covid continues.
Jobs in Professional and Business Services grew by 177,000 in the month. Low-wage sector employment also rose with Accommodation and Food Services jobs up by 74,000. All figures come from Bureau of Labor Statistics data. The JQI includes only production and nonsupervisory workers, excluding management and the self-employed. Read Article
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FASB Homes in on Cryptocurrency |
CFO Dive - Maura Webber Sadovi, Senior Editor
Dive Brief:
The Financial Accounting Standards Board (FASB) staff will present the findings of a digital assets research project next week, marking the first time the board will discuss the results of the exploration, according to spokesperson Christine Klimek.
The board could decide at its Wednesday meeting to upgrade the closely-watched digital assets issue to its technical agenda, a move that would signal that an initiative to address accounting of cryptocurrencies is gaining momentum and being teed up for standards setting.
In December board chair Richard Jones added the issue to FASB’s research agenda after feedback from stakeholders that a project to permit or require companies to account for certain digital assets at fair value should be a top priority, Klimek wrote in an email. Read Article
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Lordstown Motors, Foxconn Seal Their Deal |
IndustryWeek - Geert De Lombaerde
The companies’ contract manufacturing agreement has an initial term of 18 months and Foxconn has taken on 400 workers.
Executives of Lordstown Motors Corp. and Hon Hai Technology Group, the parent company of Foxconn, on May 11 signed agreements to have Foxconn buy Lordstown’s large Ohio manufacturing complex and take over the manufacturing of the Endurance electric pickup truck. The companies also have sealed a joint venture deal to design, develop and build other commercial EVs based on Foxconn platform technology.
Shares of Lordstown (Ticker: RIDE) jumped more than 30% to about $2 in after-hours trading on news of the deals. They had lost 80% of their value in the past year, cutting the company’s market value to just $300 million. Early this week, Lordstown CEO Dan Ninivaggi said he was still optimistic the two companies would reach an agreement after Foxconn had extended the negotiations deadline, meaning Lordstown wouldn’t have to return to Foxconn $200 million in down payments – money Ninivaggi said Lordstown didn’t have on hand. Read Article
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Lockheed Martin Machinists Approve New Contract With Pay Raises |
Assembly Magazine
FORT WORTH, TX—Union members at Lockheed Martin’s assembly plant here have voted to ratify a new contract that includes wage hikes and improvements to retirement benefits. The facility produces the F-35 fighter.
Some 5,000 members of the International Association of Machinists and Aerospace Workers District 776 in Fort Worth approved the deal that their negotiating committee had unanimously recommended, according to a statement.
Terms include a 16 percent effective general wage increase over the four years of the contract, cost-of-living adjustments, a $4,000 per person ratification bonus, and a continuation of the union’s health care plan. Read Article
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Highest Inflation in America Is Punishing a Texas Town and Its Residents |
Bloomberg - Katia Dmitrieva
Midland, Texas, is used to booms and busts. But even here, prices are shocking the local economy — and the Fed may not be able to help.
Hang out long enough in the city with the highest inflation in the US, and you’ll quickly understand why the Federal Reserve faces a Herculean task taming prices.
Midland, Texas, is strung between El Paso and Dallas along Interstate 20, and more than four hours’ drive from either big city. Its far-flung location makes everything costlier and harder to get, including workers and vehicles, which you need to go anywhere in the spread-out region with limited public transportation. Add to that the local economy’s reliance on oil, and you get the unenviable No. 1 spot for inflation over the past year. Read Article
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Crypto Prices Tank, Taking Some Companies with Them |
Axios - Matt Phillips
Crypto prices continue to tumble, humbling companies that made a big show of building up exposure to digital assets in recent years.
Driving the news: In yesterday's market bloodbath — as in the broader selloff over the last few months — the losses in cryptocurrencies and the companies that own and trade them have eclipsed those of the major stock indexes.
Why it matters: Whether you think crypto is a potential life-altering technology or an elaborate tech-centered Ponzi scheme, the recent tumble shows what a market downdraft will do to a speculative investment that produces no cash flows. Read Article
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PBGC Approves Special Financial Assistance Application - Iron Workers Local 17 Fund to Receive SFA
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Pension Benefit Guarantee Corporation
WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Iron Workers Local 17 Pension Fund (Iron Workers Local 17 Fund). The fund, based in Cleveland, Ohio, covers 1,900 participants in the construction industry.
On February 1, 2017, the Iron Workers Local 17 Fund implemented a benefit suspension under the Multiemployer Pension Reform Act of 2014 (MPRA). The fund reduced benefits of about 950 participants. On average, affected participants’ benefits were reduced by 30 percent. Read Release and Other Releases
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Peak Toolworks Opens Thirteenth US Location |
Assembly Magazine
ELKHART, IN—Diamond and carbide cutting tools manufacturer Peak Toolworks has opened its thirteenth United States location here.
“Our return to the Elkhart area is largely the result of requests by customers to bring our extensive service capabilities closer to the growing market,” says Kerry Baskins, CEO and president. “It has been exciting to welcome back many customers who have reengaged with us in the past few weeks. We have plans to continue to expand in the region to ensure we deliver consistent world class support to our customers in the entire Michiana area.” Read Article
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April Auto Production Leads Growth in Industrial Output |
IndustryWeek - Staff
The industrial sector had a solid month for production in April. According to the latest numbers from the U.S. Federal Reserve, industrial production rose by 1.1% last month as manufacturing output increased by 0.8%. Increased auto output drove significant growth as production of motor vehicles and parts rose significantly.
In its report, the Fed noted that April now marks the fourth month in a row that has seen industrial production grow by at least 0.8%. Industrial production grew by 0.8% in January, 1.0% in February, 0.9% in March and now 1.1%. Manufacturing has driven much of the more-recent growth: Manufacturing output, which excludes mining and utilities production, fell 0.1% in January before growing 1.3% in February and 0.8% in both March and April. Read Article
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Reading the Winds: The Heads and Tails Ahead for Manufacturing |
IndustryWeek - Steve Gold
Fortunately, the gusts are moving forward as well as back.
“The tree prefers calm, but the wind will not subside.” – Chinese proverb
In our 21st-century global marketplace, the overlap and interconnection of technological, social, political and demographic changes have buffeted the manufacturing sector like never before. I call this phenomenon the Six Winds—three headwinds that are the primary obstacles to fulfilling the promises of Industry 4.0, and three tailwinds that are thrusting U.S. manufacturers forward—at times, faster than they can comfortably manage.
Let’s look at the headwinds.
Demographics and talent.The pandemic exacerbated the need to find talent. The statistics are mind-boggling: Some 37 million people are expected to leave their jobs this year. Job openings in manufacturing have hovered near or above 800,000 for over half a year. Meanwhile, quit rates in manufacturing have been above 300,000 per month since November 2021. Read Article
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Samsung Commits $356 Billion in Investments With 80,000 New Jobs |
IndustryWeek - Agence France-Presse
This investment plan comes after President Joe Biden toured Samsung Electronics' Pyeongtaek semiconductor factory on Friday.
South Korean conglomerate Samsung Group on Tuesday unveiled a massive 450 trillion won ($356 billion) investment blueprint for the next five years aimed at making it a frontrunner in a wide range of sectors from semiconductors to biologics.
The new figure is an increase of more than a third over its investments spent over the past five years.
The tech giant is South Korea's largest chaebol -- the family-run conglomerates that dominate the economy -- and its overall turnover is equivalent to a fifth of the national gross domestic product. Read Article
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Boeing's Starliner Encounters Propulsion Problems On Way to ISS |
IndustryWeek - Agence France-Presse
American aerospace giant Boeing's Starliner capsule was heading for the International Space Station Thursday, in a critical uncrewed test flight that followed years of failures and false starts.
The spacecraft encountered some propulsion troubles early in its journey, with two thrusters responsible for orbital maneuvering failing for unclear reasons -- but NASA officials said the mission remained on track.
The Orbital Test Flight 2 (OFT-2) mission blasted off at 6:54 pm Eastern Time (2254 GMT) from the Kennedy Space Center in Florida, with the spaceship fixed atop a United Launch Alliance Atlas V. Read Article
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Classes alone will not close the "skills gap," but structured on-the-job training can...every time! |
Under-capacity of workers is an enormous source of untapped value and unrealized return on worker investment. In addition, standardizing expert task performance -between workers and shifts - can add to worker ROI through lower scrap and rework.
- Increased worker capacity, productivity, work quantity, work quality and compliance (specifications, ISO/AS/IATF programs and safety mandates);
- Decreased internal costs of training
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Higher return on worker investment! You would be surprised how small of an investment is needed to unlock enormous returns.
If budgets are tight, Proactive Technologies, Inc. can be an extension to your training department, with our technical implementation support - included with every project!
There's nothing to lose by taking a minute to contact us to learn more. Copyright © 2019-22 Proactive Technologies, Inc.™
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Wall Street Sees Greater Risk of Default by Major Banks |
Reuters - Mehnaz Yasmin
(Reuters) - The cost to insure bonds of Goldman Sachs (GS.N), Morgan Stanley (MS.N) and Citigroup (C.N) against default hit two-year highs on Monday on growing fears the U.S. Federal Reserve's aggressive moves to tame inflation might tip the economy into recession.
Credit risks have worsened since the Ukraine crisis as some big U.S. banks took a hit to their mainstay businesses, with capital market activity coming to a standstill and lending expected to remain lackluster. Read Article
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How Palm Oil Prices are Affecting the Global Economy |
NPR Planet Money – Paddy Hirsch
Oil prices are hitting all-time highs worldwide, creating long lines and panic buying. If that reads like an old story, consider this: we're not talking about fuel oil here. We're talking about food oil, and sunflower oil and palm oil in particular.
The cost of edible oils has been marching higher for years. Crop harvests in certain parts of the world have been erratic, which has caused periodic shortfalls. For example, crops in Canada and Argentina were decimated by drought last year. Meanwhile a surge of investment into biofuel operations — like renewable diesel projects in China, and biodiesel plants in Southeast Asia — has boosted demand for oils. So the price of sunflower oil and palm oil was already rising. But we have recently seen these two commodities become prohibitively expensive for two unique reasons. Read Article
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SEC to Nearly Double Crypto Enforcement Unit |
CFO Dive Robin Bradley, Associate Editor
Dive Brief:
The Securities and Exchange Commission (SEC) plans to build up its cryptocurrency unit from 30 to 50 enforcers by adding 20 supervisors, investigative staff attorneys, trial counsels and fraud analysts to the team, according to a press release Tuesday.
The agency is renaming the crypto enforcement group the “Crypto Assets and Cyber Unit” — from its previous iteration as simply the “Cyber Unit,” the SEC said.
The revamped enforcement team will focus on investigating violations in securities law related to crypto asset offerings, exchanges and lending, as well as staking products, decentralized finance (DeFi) platforms, nonfungible tokens (NFTs) and stablecoins. Read Article
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US Fed Makes Biggest Rate Increase Since 2000 to Fight Inflation |
IndustryWeek - Agence France-Presse
The hike will raise the costs of all types of borrowing, from mortgages to credit cards to car loans, cooling demand and business activity.
The Federal Reserve on Wednesday announced its biggest rate hike since 2000, with a half percentage point increase as it works to crush soaring US inflation.
With inflation at the highest rate in four decades, Federal Reserve Chair Jerome Powell sent a message directly to the American people, expressing concern for the pain caused by rising prices, and pledging to use all available tools to bring them down. Read Article
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US Inflation Slowed in April but Prices for Many Goods Rising |
IndustryWeek - Agence France-Presse
The latest inflation data offered some good news, as the consumer price index (CPI) slowed slightly last month, jumping 8.3% compared to April 2021, after peaking in March at 8.5%, according to the Labor Department.
U.S. inflation slowed in April, according to new data Wednesday, but Americans continue to see their wallets empty faster when they buy groceries and pay the rent.
President Joe Biden has gone on the offensive, blaming the price spike on Russian leader Vladimir Putin's invasion of Ukraine, and announcing a series of steps he hopes will ease the pain. Read Article
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Inflation Pounds Small Business Optimism to 48-year Low |
CFO Dive - Jim Tyson, Senior Reporter
Dive Brief:
The proportion of small business owners expecting brighter conditions for their companies slumped to the lowest level in 48 years, the National Federation of Independent Business (NFIB) said, primarily blaming the worst inflation in four decades.
Nearly one out of three small businesses (32%) identified rising prices as their biggest problem — the highest reading since late 1980, NFIB said, describing survey results. Companies cited quality of labor and taxes as their second and third most worrisome challenges.
“Small business owners are struggling to deal with inflation pressures,” NFIB Chief Economist Bill Dunkelberg said. “The labor supply is not responding strongly to small businesses’ high wage offers and the impact of inflation has significantly disrupted business operations.” Read Article
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Time to Get Serious about Sustainability |
EHS Today – Jonathan Katz
Investors and customers want sustainability; regulators may require it. Are organizations ready to meet their demands?
The success of corporate sustainability programs may hinge upon four primary factors: staffing, funding, employee support and meaningful metrics. Operations professionals responding to EHS Today’’s 2022 Sustainability Progress Report survey indicated that these are the top areas they struggle with when implementing or maintaining a sustainability program.
Industry consultants suggest that corporate leaders prioritize sustainability initiatives as a strategic focus to overcome these challenges. In the coming years, they may not have a choice. In March, the Securities and Exchange Commission (SEC) proposed rule changes that would require registrants to include information about climate-related business risks. In April, an Intergovernmental Panel on Climate Change (IPCC) report concluded that industry must play a critical role in achieving net-zero greenhouse gas emissions targets. Read Article
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Judge Dismisses Class Action Against Wells Fargo, Former CEO, Ex-CFO |
CFO Dive - Robin Bradley, Associate Editor
Dive Brief:
Wells Fargo beat a proposed class-action lawsuit that accused the bank of deceiving investors about its commercial loans over a three-year span in which the bank’s share price tumbled 54%, Reuters reported Friday.
Shareholders led by the Employees’ Retirement System of the State of Hawaii said they lost billions of dollars when the bank ultimately disclosed the high level of risk in many of its commercial loans.
A judge with the U.S. District Court for the Northern District of California dismissed the charges Friday, stating the shareholders failed to prove Wells Fargo unjustifiably inflated loans, understated loss reserves or misstated its practices to investors. Read Article
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Adjustable-rate Mortgage Demand Doubles as Interest Rates Hit the Highest Since 2009 |
CNBC - Diana Olick
KEY POINTS
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· The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.37% from 5.20%, the highest rate since 2009.
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· The adjustable-rate mortgage share of applications last week was over 9% by loan count and 17% based on dollar volume. At 9%, the ARM share was double what it was three months ago.
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· Applications to refinance a home loan fell 9% for the week and were 71% lower than the same week one year ago. Read Article
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U.S. Companies Post Their Biggest Profit Growth in Decades by Jacking Up Prices During the Pandemic |
Forbes – Will Daniel
U.S. companies posted record profits in 2021, even as Americans struggled with rising consumer prices amid the COVID-19 pandemic.
Corporate pretax profits surged 25% year over year to $2.81 trillion, the Bureau of Economic Analysis said on Wednesday. That’s the largest annual increase since 1976, according to the Federal Reserve.
When taxes are factored in, last year’s corporate profit increases were even more of an outlier. They soared 37% year over year, more than any other time since the Fed began tracking profits in 1948. Read Article
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Economist Explains Record Corporate Profits Despite Rising Inflation |
NPR All Things Considered – Michael Martin
NPR's Michel Martin talks with economics professor Isabella Weber about the price hikes and inflation occurring alongside skyrocketing corporate profits.
Prices are up all over the place - at the gas pump, at the grocery store, at the car lot. This week, the federal government reported a 7.5% increase in the cost of goods all across the board compared to a year ago. The consumer price index showed a 4% rise in housing, a 12% increase in the price of meat, and the cost to buy a used car is up more than 40%. Read Transcript and Hear Podcast
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16 Largest Hedge Funds of 2022 By AUM (Assets Under Management) |
Money Crashers - Joshua Rodriguez
Hedge funds have become a popular topic among investors and traders in recent times. The increase in public attention started in early-2021, when retail investors on a Reddit channel known as WallStreetBets outlined morally questionable actions made by hedge funds and worked together to strike back through what became known as the Big Short Squeeze.
This led to a widespread search for knowledge among the investing community. Who are hedge funds, and what exactly is an institutional investor? What is the multi-strategy alternative investment approach, in which heavy short positions and other derivatives factor into the risk-versus-reward equation? Read Article
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How Does the Consumer Price Index Account for the Cost of Housing? |
Brookings Institution - David Wessel, Director - The Hutchins Center on Fiscal and Monetary Policy Senior Fellow - Economic Studies; Sophia Campbell, Former Senior Research Assistant - Hutchins Center on Fiscal and Monetary Policy
Housing represents about a third of the value of the market basket of goods and services that the Bureau of Labor Statistics (BLS) uses to track inflation in the Consumer Price Index. A rise in the price of shelter, the BLS label for housing, contributed to the increase in inflation in early 2022. Measuring changes in shelter costs is more difficult than measuring changes in the prices of, say, apples or tires. This post explains how the BLS currently measures changes in the cost of housing for both renters and homeowners. Read Article
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More Investors Are Buying Mobile Home Parks, Leaving Residents Behind |
Newsy – Staff
One of America's more affordable housing options is now a target of investors, who often raise rent and other fees.
Housing in the U.S. is getting more expensive all the time — especially lately. A real estate research firm found rent across the country increased by about 11% last year. Now one of the last affordable housing options left in America are mobile homes, but people are being priced out of those, too.
A growing number of investors are buying up these parks as many of the longtime owners are retiring and looking to sell. While many people own their mobile homes, they still have to pay rent for the land they sit on. When investors come in, they often raise that rent and other fees. Read Article and See Video
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US Economy Shrank by 1.5% in Q1 but Consumers Kept Spending |
Associated Press – Paul Wiseman
The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter.
Last quarter’s drop in the U.S. gross domestic product — the broadest gauge of economic output — does not likely signal the start of a recession. The contraction was caused, in part, by a wider trade gap: The nation spent more on imports than other countries did on U.S. exports. The trade gap slashed first-quarter GDP by 3.2 percentage points.
And a slower restocking of goods in stores and warehouses, which had built up their inventories in the previous quarter for the 2021 holiday shopping season, knocked nearly 1.1 percentage points off the January-March GDP. Read Article
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Financial Book Reviews for Our Time |
Jack Welch, The Man Who Broke Capitalism
Kyle Westaway, Contributor
David Gelles has been reporting on American CEOs for years at The New York Times. But there’s one CEO who stands heads and shoulders above his peers. He’s been retired for more than two decades, but his impact is still felt. Revered by some and reviled by others, his name is Jack Welch and he served as the CEO for General Electric (GE) from 1981 to 2001.
In Gelles’ new book, The Man Who Broke Capitalism: How Jack Welch Gutted the Heartland and Crushed the Soul of Corporate America―and How to Undo His Legacy, he chronicles how Welch’s laser focus on maximizing shareholder value by any means necessary - including layoffs, outsourcing, offshoring, acquisitions, and buybacks - became the new playbook in American business. The book demonstrates how this shareholder maximizing version of capitalism has led to the greatest socioeconomic inequality since the Great Depression and harmed many of the very companies that have embraced it. Read and Listen to Article
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Mexico, Latin America, South America and the Caribbean |
Study: Fintech Industry Doubles in Size in Three Years in Latin America and the Caribbean
InterAmerican Development Bank
COVID-19 has accelerated digitalization and digital finance, feeding a true fintech boom in Latin America and the Caribbean. That presents a powerful opportunity for greater financial inclusion, a priority for development and for the IDB.
Our study finds that the number of fintech platforms in the region reached 2,482 last year, growing 112% between 2018 and 2021. Today, nearly a quarter of the world’s fintech platforms are in Latin American and Caribbean. Read Release
IMF Concerned About Security of Bahamas CBDC
Jamaica Observer – Josimar Scott
The Central Bank of The Bahamas has welcomed the International Monetary Fund’s recommendation to address cybersecurity concerns.
THE International Monetary Fund (IMF) has raised concerns about cybersecurity threats to the Sand Dollar, The Bahamas’ central bank digital currency.
In its Article IV consultation and staff report published on Monday, May 9, the IMF extolled the benefit of the Sand Dollar to “foster inclusion” and, as a result recommended that the Central Bank of The Bahamas (CBOB) accelerate its education campaigns. Read Article
The Fiscal Puzzle of the Ukraine War for Latin America and the Caribbean
InterAmerican Development Bank – Emilio Pineda – Oscar Valencia – Romina Nicaretta – Matheo Arellano M
The war in Ukraine has produced a significant increase in energy costs that will likely delay the fiscal consolidation efforts already put in place by several governments in the region. This supply shock is also likely to fuel inflation and higher interest rates, adding further pressure on governments trying to service their debts. How can governments ensure they make the right policy choices?
In such a difficult scenario, how can governments ensure they take the right steps, so their debt levels remain sustainable, and they succeed in reactivating their economies?
The Impact of Rising Oil Prices on Latin America and the Caribbean
The war in Ukraine has produced a significant increase in energy costs that will likely delay the fiscal consolidation efforts already put in place by several governments in the region. This supply shock is also likely to fuel inflation and higher interest rates, adding further pressure on governments trying to service their debts. Higher domestic and global inflation has already led the Fed to increase its interest rates and reduce its balance sheet, for example. That, in turn, could generate capital outflows from the region and worsen financing conditions.
In such a difficult scenario, how can governments ensure they take the right steps, so their debt levels remain sustainable, and they succeed in reactivating their economies? Read Article
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Canada, Europe and Great Britain |
ECB Lays Out ‘Anonymous’ Digital Euro as Public Opposes ‘Slavecoins’
CoinTelegraph.com
The European Central Bank (ECB) continues pushing its central bank digital currency (CBDC) project despite Europeans apparently not feeling too positive about a digital euro.
The ECB released another working paper on the digital euro, providing an extensive technical analysis of a potential European CBDC and its position in the existing financial system.
Issued on May 13, the working paper aims to study issues like financial intermediation, payment choices and privacy in the digital economy, providing a large number of related algebra-based conclusions. Read Article
Germany Beer Bottle Shortage: Industry Warns of ‘Tense’ Situation
BBC
German breweries are warning there could be a shortage of beer bottles this summer amid rising production costs and a shortage of lorry drivers.
The situation is “extremely tense”, the chief executive of the German Brewers’ Federation told German newspaper Bild.
The shortage of glass bottles will mainly affect small- and medium-sized breweries, an industry expert said. Brewers are having to pay 80% more for new glass bottles than they did a year ago. The cost of beer is also rising. Read Article
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Does the China-Solomon Islands Security Pact Portend a More Interventionist Beijing?
Brookings Institution – Patricia M. Kim, David M. Rubenstein Fellow – Foreign Policy, Center for East Asia Policy Studies, John L. Thornton China Center
The recent announcement of a new security agreement between China and the Solomon Islands has rattled leaders in Washington, Canberra, and other Indo-Pacific capitals who fear it opens the door to a Chinese military presence in the southern Pacific. Much of the attention has been on the deal’s potential to lead to a Chinese military base on the island nation, and the power-projection capabilities the People’s Liberation Army (PLA) would gain as a result. But the new pact raises another critical question that has received less attention: is China is reentering the business of militarily propping up friendly regimes? Read Article
Philippines Election Winner Marcos Tells World to Judge Him by Actions, Not Family’s Past
Reuters - Karen Lema and Enrico Dela Cruz
MANILA, May 10 (Reuters) – The son of the disgraced late Philippines dictator Ferdinand Marcos vowed on Tuesday to work for all people after his stunning election victory, and told the world to judge him by his presidency, not his family’s past.
Ferdinand Marcos Jr, better known as “Bongbong”, become the first candidate in recent history to win an outright majority in a Philippines presidential election, paving the way for a once unimaginable return to rule for the country’s most notorious political dynasty. Read Article
China’s CBDC Rolled Out at Transport Networks in Two More Major Cities
Forbes India – Shashank Bhardwaj
Chinese passengers can pay their fares in Digital Yuan at the transport networks in Xiamen and Guangzhou city
Chinese citizens will now be able to pay their fares in Digital Yuan—China’s CBDC (Central Bank Digital currency)—by scanning QR codes or using swipe cards on trams and trains in two more cities—Xiamen and Guangzhou. CBDC adoption has sharply risen in China since the launch of the CBDC pilot testing project, with transaction volumes reaching $11 billion.
Passengers will be able to pay fares in digital yuan on the Haizhu Tram Line 1. The tram company said that since the launch of the CBDC payments, the usage has increased from a handful of orders in a day to dozens of orders per day. The Guangzhou Tramway Company will undertake publicity campaigns to attract more passengers to adopt the new payment system.
The payment option available is a QR code scan at the ticket gate using the digital yuan app. Buses and subways have also started accepting payments in digital yuan in Xiamen. Passengers can purchase electronic transportation cards from the Xiamen Bus App or the Xiamen Metro app. Passengers can select the means of payment as digital yuan to transact CBDC payments via these cards. Read Article
COVID: North Korea Reports Further Deaths Amid Health Crisis
DeutscheWelle
North Korea on Sunday reported a total of 42 deaths from “fever” after admitting its first-ever COVID-19 cases days before. Lockdown policies have been implemented across the country, according to state-run media.
Kim Jong Un said he hopes to learn from China’s strict pandemic strategy
North Korea has confirmed 15 more deaths from “fever” Sunday after leader Kim Jong Un said that a COVID-19 outbreak has thrust his country into “great turmoil.” Read Article
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Asia, India and Australia |
Sri Lanka Crisis: What is Going On in the Country?
BBC
Sri Lanka has a new prime minister
Sri Lanka’s President Gotabaya Rajapaksa has appointed a new prime minister as he tries to control protests in the country which have continued as a result of the current economic crisis.
Ranil Wickremesinghe was sworn in at a ceremony on Thursday. This will be Mr Wickremesinghe’s sixth time as Sri Lanka’s prime minister, although he’s never remained in the role for the full term.
The new government leader is believed to have close ties to the Rajapaksa family which the president is a part of, despite him being the leader of the opposition. Experts believe he’s been chosen because he’s likely to protect their interests. Read Article
What happens In Crypto May Not Stay in Crypto This Time Around
Financial Review – Katie Martin, Contributor
Even some who have sipped the Kool-Aid accept the latest crypto cracks may be different.
Crypto is creaking. Unfortunately, even those fund managers in normal markets like stocks and bonds who have studiously avoided focusing on this freewheeling asset class, need to pay attention.
A trickle lower from a peak above $US68,000 ($99,000) in the bitcoin price has turned into a flood, in part because of cracks in the so-called stablecoins – a misnomer if ever there was one – that glue the market together. Right now the price is down to around $US27,000. Read Article
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Africa, Middle East, Eastern Europe and Russia |
Russia-Ukraine Conflict Puts Fragile Global Trade Recovery at Risk
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH – WTO
Prospects for the global economy have darkened since the outbreak of war in Ukraine on 24 February, prompting WTO economists to reassess their projections for world trade over the next two years.
World merchandise trade volume is expected to grow 3.0% in 2022 (down from 4.7% previously) and 3.4% in 2023, but these figures may be subject to revision due to uncertainty about the course of the conflict in Ukraine.
World GDP at market exchange rates is expected to increase by 2.8% in 2022 after rising 5.7% in 2021. Output growth should pick up to 3.2% in 2023, assuming persistent geopolitical and economic uncertainty.
The CIS region should see a 12.0% decline in imports and a 7.9% drop in GDP in 2022, but exports should grow by 4.9% as other countries continue to rely on Russian energy. Regional disparities may narrow due to weak import demand in Europe and Asia.
The volume of merchandise trade rose 9.8% in 2021. The US$ value of this trade grew 26% to US$ 22.4 trillion. The value of commercial services trade was also up 15% in 2021 to US$ 5.7 trillion.
Services trade will also be affected by the conflict in Ukraine, including in the transport sector, which covers container shipping and passenger air transport. Read Release
Food Crisis Inches Toward Record High in West, Central Africa
VOA News – Annika Hammerschlag
An estimated 250 million people in Africa lack access to daily food, with the number impacted in west and central Africa expected to reach a record high. Officials and aid groups from more than 50 African countries meet this week in Equatorial Guinea to discuss ways of improving the continent’s agricultural food systems.
The U.N. World Food Program says the number of people affected by the ongoing food crisis in west and central Africa has quadrupled over the last three years, rising from 10.7 million in 2019 to 41 million today.
The organization now expects merchandise trade volume growth of 3.0% in 2022 — down from its previous forecast of 4.7% — and 3.4% in 2023, but these estimates are less certain than usual due to the fluid nature of the conflict (Table 1).
The most immediate economic impact of the crisis has been a sharp rise in commodity prices. Despite their small shares in world trade and output, Russia and Ukraine are key suppliers of essential goods including food, energy, and fertilizers, supplies of which are now threatened by the war. Grain shipments through Black Sea ports have already been halted, with potentially dire consequences for food security in poor countries. Read Article
Overlapping Crises in the Western Balkans
Brookings Institution – Richard Record, Lead Economist and Program Leader, Equitable Growth, Finance and Institutions, Western Balkans – World Bank; Sanja Madzarevic-Sujster, Senior Economist for the Macroeconomics, Trade and Investments, Western Balkans – World Bank; Tihomir Stucka,
Senior Economist, Macroeconomics, Trade and Investments, Western Balkans – World Bank
The countries of the Western Balkans are facing a series of economic shocks all at the same time. The region’s economy was only just beginning to bounce back from the COVID-19-induced recession, but now also needs to grapple with the fallout of the war in Ukraine, a resurgence in inflation, and a pressing energy transition. Steering through these crises involves risks and will require careful choices.
All six of the Western Balkan economies—Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia—saw a strong economic recovery with 7.4 percent growth in 2021 as the region rebounded from the recession of 2020. In fact, the strength of the recovery exceeded forecasts due to a combination of pent-up consumer demand, relaxed travel restrictions despite high infection rates and low vaccination, and a rebound in investment and a surge in exports—all aided by continued fiscal support. A return to economic growth saw job creation, in turn helping to reduce poverty across the region. Read Article
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Proactive Technologies' Project Partners |
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Frank J. Gibson Consulting |
"One thing is certain... nothing is certain!"
The rate of change affecting work, the worker, management and the educational institutions that service all three has been accelerating - made worse by the unexpected Covid-19 pandemic. The economy, the consumer, supply chains and operational strategies have all been disrupted in the short-term, casting doubt on the long-term.
Rapid adaptation is the key to survivability, sustainability and growth. Sometimes an experienced outside advisor can help facilitate needed improvements to take the worry out of change and the fear out of growth. Frank J. Gibson Management and Workforce Excellence Advisor
- Business Development & Growth
- Workforce Development and Optimization
- Training and Cross-Training
- Local,/Regional Workforce Development Projects and Community Development
- Facilitated Problem Solving
- Process Improvement Cross-Functional Leadership Coaching and Mentoring
- Internship and Apprenticeship Projects
- Strategic Doing/Strategic Planning
Copyright © 2022 Frank J. Gibson
ALL RIGHTS RESERVED
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PTI Systems
International, Inc.™
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- Affiliated with Proactive Technologies, Inc. for projects outside the United States;
- Workforce development partner for employers, and education/ training providers who support employers, to ensure every worker can be trained to full job mastery;
- Experienced with governmental, IDB, GIZ and economic development agency sponsored projects;
- Experienced in assuring multinational employers expanding to the U.S. have the skilled workforce they need.
- PTI Systems International sets-up complete worker development and performance management systems, and provides technical implementation support;
- We provide strategies for our project's transition to local management.
- Speakers for seminars and conferences.
Don't complain about a "skills gap," deliberately develop every worker to full job mastery!
© 2018-22 PTI Systems International, Inc.™
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“Experience by itself teaches nothing... Without theory, experience has no meaning. Without theory, one has no questions to ask. Hence, without theory, there is no learning.”
American engineer, statistician,
professor, author, lecturer, and
management consultant
1900 - 1993
“No one will protect what they don’t care about, and no one will
care about what they have never experienced.”
English broadcaster, biologist, natural historian and author. He is best known for writing and presenting, in conjunction with the BBC Natural History Unit
1926 –
“Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be.”
English economist, whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments
1883 - 1946
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U.S. Department of Commerce - Bureau of Economic Analysis |
U.S. International Trade in Goods and Services, March, 2022
The U.S. monthly international trade deficit increased in March 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $89.8 billion in February (revised) to $109.8 billion in March, as imports increased more than exports. The previously published February deficit was $89.2 billion. The goods deficit increased $20.4 billion in March to $128.1 billion. The services surplus increased $0.4 billion in March to $18.3 billion. Read Report
U.S. International Transactions, Fourth Quarter and Year 2021
The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, narrowed by $2.0 billion, or 0.9 percent, to $217.9 billion in the fourth quarter of 2021, according to statistics released by the U.S. Bureau of Economic Analysis (BEA). The revised third-quarter deficit was $219.9 billion.
The fourth-quarter deficit was 3.6 percent of current-dollar gross domestic product (GDP), down from 3.8 percent in the third quarter.
The $2.0 billion narrowing of the current-account deficit in the fourth quarter reflected a reduced deficit on secondary income and expanded surpluses on services and on primary income that were mostly offset by an expanded deficit on goods. Read Report
New Foreign Direct Investment in the United States
The statistics on new foreign direct investment in the United States provide information on the acquisition, establishment, and expansion of U.S. business enterprises by foreign direct investors. Read Reports
BEA International Trade and Investment Country Facts
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U.S. Department of Commerce - Bureau of the Census |
Monthly Wholesale Trade
March 2022 sales of merchant wholesalers were $686.2 billion, up 1.7 percent (+/- 0.5 percent) from last month. End-of-month inventories were $840.3 billion, up 2.3 percent (+/- 0.2 percent) from last month. March 2022: +2.3 % change in Inventories; February 2022 I: +2.8 % change in Inventories. Read Report
Manufacturing and Trade Inventory and Sales – March, 2022
U.S. total business end-of-month inventories for March 2022 were $2,324.2 billion, up 2.0 percent (+/- 0.1 percent) from last month. U.S. total business sales were $1,832.1 billion, up 1.8 percent (+/- 0.2 percent) from last month. March 2022: +2.0 % change in Inventories. February 2022 I: +1.8 % change in Inventories. Read Report
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Organisation for Economic Co-operation and Development |
U.S. Data versus the World
Find, compare and share the latest OECD data: charts, maps, tables and related publications. Access Data
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International Trade in Services
Trade in services records the value of services exchanged between residents and non-residents of an economy, including services provided through foreign affiliates established abroad. This indicator is measured in million USD and percentage of GDP for exports, imports and net trade. Services include transport (both freight and passengers), travel, communications services (postal, telephone, satellite, etc.), construction services, insurance and financial services, computer and information services, royalties and license fees, other business services (merchanting, operational leasing, technical and professional services, etc.), cultural and recreational services, and government services not included in the list above. Trade in services drives the exchange of ideas, know-how and technology, although it is often restricted by barriers such as domestic regulations. All OECD countries compile their data according to the 2008 System of National Accounts (SNA). Access Data and Tables
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Monthly Trade Deficit Tops $100 Billion for First Time in History |
Coalition for a Prosperous America
The U.S. trade deficit in goods and services rose by a whopping 22.3% in March to $109.8 billion, the Bureau of Economic Analysis (BEA) said on Wednesday. This marks an all-time high as the U.S. has never posted a goods and services trade deficit of more than $100 billion in a single month. February’s deficit was $89.7 billion, for example.
The deficit with China also rose, transferring jobs, industries, and wealth from the U.S., even as Beijing gives cover to Russia’s war on Ukraine.
The deficit with Vietnam, widely believed to include a large number of Chinese goods, also hit a record high. Moreover, higher U.S. interest rates are drawing in more speculative capital flows into the securities market, driving dollar misalignment higher and causing U.S. companies to lose market share at home and abroad. Read Article
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How the War in Ukraine Has Undermined Globalisation |
Tralac - Gerhard Erasmus
The Russian invasion of Ukraine is in its sixth week now. It has not been the successful Blitzkrieg that Vladimir Putin had hoped for. Ukrainian forces are putting up a brave defence of their country and the Russian army has suffered unexpected setbacks.
An end to this invasion is urgent. It has taken a massive toll in terms of infrastructural destruction and human life. Russian forces have bombarded civilian targets, energy and water supplies, causing a catastrophic refugee crisis. Many civilians, including children, have been killed. The International Committee of the Red Cross has warned of “a devastating humanitarian crisis”. There are indications that war crimes have been committed. Read Article
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Commodity Markets Outlook |
World Trade Organization (WTO)
The war in Ukraine has dealt a major shock to commodity markets, altering global patterns of trade, production, and consumption in ways that will keep prices at historically high levels. Overall, this is the biggest commodity shock since the 1970s. As back then, the shock is exacerbated by increasing trade restrictions on food, fuel, and fertilizer. The outlook for commodity markets depends heavily on the duration of the war in Ukraine and the severity of disruptions to commodity flows, with a key risk that commodity prices could be higher for longer. Download Report
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Extended Supply Chains Are Going Away: What Comes Next? |
IndustryWeek – Andrew R. Thomas
While champions of “bringing it back home” are understandably excited about the prospects of an American manufacturing renaissance, some challenges need to be addressed.
During America’s Bretton Woods era, from 1944 to 1971, the International Monetary Fund was established and dollars were convertible to a fixed price of gold. One of the most important economic results of that time was the expansion of global supply chains to more and more nations.
Southeast Asia, first, then defeated Japan, and later South Korea, Singapore, Taiwan, Philippines, Malaysia, Thailand, Indonesia, and even Vietnam and China—countries that had each fought bloody wars against the Americans—took full advantage of the security and market guarantees of Bretton Woods to make their peoples’ lives better. Read Article
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China’s Latest Lockdowns Bring Shipping Headaches, and a Silver Lining |
IndustryWeek – Lauren Pittelli
Even if a supplier’s plant is open and operating, trucking restrictions are in effect.
The Chinese government’s zero-COVID policy continues to wreak havoc on its citizens and on the global supply chain. The largest impacts today are in Shanghai and Beijing.
Shanghai, a city of 25 million, has been in lockdown since early April. Some companies have been able to operate in the area by using a “closed-loop system,” where staff are required to live on-site.
Two weeks ago, a small group of automotive industry manufacturers were allowed to reopen their plants. A second tranche of companies has just been authorized to re-open. Dezan Shira & Associates report that the second list includes some semiconductor, pharmaceutical and logistics providers. Read Article
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Why are Foreign Trade Zones Making a Comeback? |
Area Development – Curtis Spencer, President, IMS Worldwide, Inc.
While the buzz around the trade war between the United States and China has died down, tariffs and other taxes are still impacting many companies with a global supply chain. Foreign trade zones are making a comeback as an additional incentive to help reduce taxes for manufacturing, e-commerce and other retail companies throughout the U.S. We interviewed Curtis Spencer, President, IMS Worldwide Inc., at the 2019 Area Development Consultants Forum in Houston about some of these insights. Below are some excerpts from our interview, which you can also watch here.
Area Development interviewed Curtis Spencer, President, IMS Worldwide Inc., at our Houston Consultants Forum. Our discussion covered how companies can leverage foreign trade zones to mitigate the impact of tariffs on their bottom line. Interview conducted by Margy Sweeney, Founder and CEO, Akrete, Inc. and Area Development Editorial Board member.
FTZs Are Making a Comeback
There was a double-digit growth in foreign trade zone use [in 2018], according to the federal government’s report for that year. When the 2019 report comes out, that double double-digit growth will have increased even more. The reason is that these tariffs are a whole new way to save money, compared to before, when the most important things were speed to market, using direct delivery and weekly entry, cutting your supply chain time and lowering your cost of operations. Now it’s cut your supply chain time, lower costs and mitigate the tariffs. Read Article
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How The Record Q1 U.S. Trade Deficit Shrank the Economy |
Coalition for a Prosperous America
For years, mainstream politicians and economists have pooh-poohed America’s huge and growing trade deficits and tried to argue they don’t matter. In the first quarter of 2022, those commentators got a wake-up call from the Bureau of Economic Analysis.
On April 28, the BEA issued a press release pointing out that U.S. gross domestic product (GDP) fell 1.4% in the first quarter of this year in real (inflation-adjusted) terms. The fall in GDP was entirely due to worsening of the trade deficit to record levels. The other main contributors to U.S. GDP –investment and private consumption – were positive in the quarter. But the trade deficit, at 3.2% of GDP, caused the economy to shrink. Read Article
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US Unveils Asia-Pacific Trade Framework, But Questions Remain |
IndustryWeek - Agence France-Presse
Unlike traditional trade blocs, there is no plan for IPEF members to negotiate tariffs and ease market access -- a tool that has become increasingly unpalatable to U.S. voters fearful of seeing homegrown manufacturing undermined.
U.S. President Joe Biden launched a new Asia-Pacific trade initiative Monday in Tokyo, with 13 countries including India and Japan signed up, although questions about the pact's effectiveness remain.
Biden formally unveiled the Indo-Pacific Economic Framework for Prosperity, or IPEF, on his second day in Japan, where he held talks with Prime Minister Fumio Kishida ahead of a regional Quad summit on Tuesday.
"I believe we'll win the competition of the 21st century together," he said at the launch, attended in person by Kishida and Indian Prime Minister Narendra Modi, and virtually by representatives from the other countries. Read Article
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Education And Workforce Development News |
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Expanding Transfer Agreements |
Community College Daily News – Tabitha Whissemore
Transfer agreements between community colleges and four-year institutions aren’t new. But community colleges and universities are expanding and strengthening partnerships to meet the needs of both students and employers.
At Northeast Wisconsin Technical College (NWTC), 50% of transfer students transfer within the University of Wisconsin (UW) system, and 50% of those students transfer to UW-Green Bay. NWTC and UW-Green Bay have partnered in creating more than 20 programs to transfer agreements.
Now, they’re partnering to offer transfer opportunities for learners to earn associate of arts and associate of arts and science degrees. The agreement is set up specifically for transfer to the university into any liberal arts program. Read Article
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Bringing Back Students with No Credentials |
Community College Daily News – Mathew Dembicki
Nearly 6 in 10 (58.3%) of 39 million Americans who have taken at least a few college courses but haven’t earned a credential last attended a community college, according to a new report. Among those former community college students who did return to college, the two-year path was the choice for nearly 40% of them, and the bulk of those came back to the community college where they last enrolled.
That spells out some promising potential for community colleges that are struggling to replenish their enrollments following draconian drops due to the pandemic. Even before Covid hit, two-year colleges, in general, faced a steady drop in enrollment, partly due to students opting to work in a red-hot economy rather than pursue a college credential. Read Article
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Enrollment Declines Continued This Spring |
Community College Daily News – Mathew Dembicki
Community college enrollments continued a significant downward slide this spring, but an increase among their freshmen offers a sliver of hope for larger increases in the fall, based on a new report by the National Student Clearinghouse (NSC) Research Center.
Community college enrollments decreased -7.8% from last spring, which is about 351,000 fewer students — that’s more than half of the total undergraduate spring enrollment drop of 662,000 (-4.7%), the report says. Since spring 2020, the public two-year sector has seen enrollments crash by more than 827,000 students. Among all postsecondary institutions, undergraduate enrollment has declined by nearly 1.4 million (-9.4%) during the pandemic, the center notes. Read Article
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Future Workers Still Have Misconceptions About Skilled Trade Jobs |
IndustryWeek - Adrienne Selko
3M's State of Science survey finds a lot of confusion about education and opportunities in STEM jobs. Even if you believe something to be true, you might not follow that belief.
This is exactly the case based on the results from a recent survey from 3M called the State of Science Index. In its fifth year, the survey examines the public image of science globally. One of the themes of this year's survey was the perception of vocational skills. The survey found that a large number of Americans, 90%, believe that jobs in the skilled trades offer a lot of opportunities. But a majority, 71%, also said they would not pursue this employment route.
Why is this? Well, Mike Vale, group president of Safety and Industrial Business for 3M has some theories. “When we ask questions about skilled trade careers, people will say that while I see it as equivalent in pay, I have other things I'm more interested in. And when you get to the behavioral side, I feel that many parents will guide their kids into what they perceive as a more stable, higher-paying career path than what a skilled trade job could offer,” Vale explains. Read Article
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Training And Organizational Development News |
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Engineering’s Talent Strategy Needs an Upgrade |
IndustryWeek – Angie Keller
An aging workforce and slow growth in the number of people obtaining relevant degrees are contributing to a skills shortage.
While businesses have been engaged in a slow but steady digital transformation for well over a decade, the last two years have propelled that transformation forward at a pace few could have seen coming. The engineering industry is one sector where the integration of digital technology has spread to virtually all areas of business, from customer service and supply chain relations to internal operations. The industry must begin to reassess its hiring practices and skilling strategies if it wants to thrive in the 21st-century digital economy.
While almost every industry in the United States has experienced pandemic-related labor shortages, the engineering sector has been particularly hard hit by the lack of available talent. Read Article
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‘This is a crisis point’: Job training deficit leaves critical jobs unfilled |
Community College Daily News – Politico, Eleanor Mueller
The U.S. spends far less on workforce development than most other wealthy nations, which has made it difficult for its workforce and supply chain to meet the challenges of the pandemic.
As inflation continues to spike, the White House and Democrats in Congress are turning their attention to one of its least-talked-about causes: lagging workforce development.
For years, the U.S. has spent far less on training its workers and done so much less effectively than most other wealthy nations, which is contributing to the supply chain woes caused by the pandemic. Read Article
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Access Proactive Technologies' Recent "Proactive Technologies Workforce News" Article Quicklinks |
Located on the left panel below, this includes articles on structured worker development, achieving worker "full job mastery," engineering/quality/safety compliance, ISO/TS/AS quality program support and compliance, and many other contemporary worker development and management topics. |
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Recent Proactive Technologies News Article Quicklinks |
May
by Dean Prigelmeier, President of Proactive Technologies, Inc.
Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
by Frank Gibson, Workforce Development Advisor, retired from The Ohio State University – Alber Enterprise Center
by Dean Prigelmeier, President of Proactive Technologies, Inc.
APRIL
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
by Dr. Dave Just, formally Dean of Corporate and Continuing Education at Community Colleges in MA, OH, PA, SC. Currently President of K&D Consulting
MARCH
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Regional Director of Operations - Eastern U.S. - Proactive Technologies, Inc.
by Frank Gibson, Workforce Development Advisor, retired from The Ohio State University – Alber Enterprise Center
by Dean Prigelmeier, President of Proactive Technologies, Inc.
FEBRUARY
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Regional Director of Operations – Eastern U.S. – Proactive Technologies, Inc.
by Dr. Dave Just, formally Dean of Corporate and Continuing Education at Community Colleges in MA, OH, PA, SC. Currently President of K&D Consulting
by Dean Prigelmeier, President of Proactive Technologies, Inc.
JANUARY
by Dean Prigelmeier, President of Proactive Technologies, Inc.
by Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.– Proactive Technologies, Inc.
Stacey Lett, Director of Operations – Eastern U.S. – Proactive Technologies, Inc.– Proactive Technologies, Inc.
by Dean Prigelmeier, President of Proactive Technologies, Inc.
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Proactive Technologies, Inc. Partners With Educational Institutions, Workforce/Economic
Development Groups, Government Agencies
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Structured on-the-job training attracts and engages employers in workforce development partnerships...some projects sustainable for more than 18 years!
This creates a steady need for your related technical instruction, services and a pathway for employment.
These partnerships:
- enhance your institution's opportunity to market your products and services to incumbent workers;
- allow your organization to include structured on-the-job training as a capstone to preemployment preparation;
- document a trainee-to worker's increasing value to the employer - the key to retention - rather than leaving it to chance;
- properly aligns workforce development resources and maximizes the impact and results; allows you to engage an employer's facility, equipment and staff in the training process;
- provides the best, sustainable infrastructure for apprenticeships and internships that last!
- is a win for the trainee, win for the worker, win for the employer, win for the institution and win for the community!
This approach has continued to prove itself since 1988, and does not compete with your school's or agency's products and services; it adds to your efforts the clear, tangible, measurable advantage that employers seek.
Copyright © 2022 Proactive Technologies, Inc.™ ALL RIGHTS RESERVED
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Tri-Rivers Career Center - Adult Education provides lifelong, continuous learning for a diverse adult population. We utilize practical skills with an eye toward technological advancement.
We partner with state agencies and employers to provide targeted skill development to future and incumbent workers.
Our RAMTEC (Robotic and Advanced Manufacturing Technology Education Collaborative) facility - one of many throughout the state - offers advanced technical training in specialized areas such as robotics, robotic welding, and engineering technology.
Copyright © 2022 Tri-Rivers Career Center - Adult Education - RAMTEC ALL RIGHTS RESERVED
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PROACTIVE TECHNOLOGIES, INC. CLIENT SERVICES |
To supplement onsite PROTECH™ system of managed human resource development classes, these regularly scheduled webinars are available to the registered staff of clients:
- Structured On-The-Job Training Instructor Certification
- Structured On-The Job Training Checklist Administrator Certification
- Management Structured On-The-Job Training Project Support Briefing
- Integrating Support for Plant-Wide ISO/AS/IATF Quality and Safety Systems with PROTECH Workforce Development System
- Supporting "Pay-For-Value" Systems
- Promoting Continuous Process Improvement While Implementing the PROTECH System for the Accelerated Transfer of Expertise™
- PROTECH Onsite Lead Trainer and System Administrator Certification
Contact US t o attend one of these seminars and we will send you an e-reservation. Include your client ID, name and user ID number and which webinar you would like to attend.
Copyright © 2019-22 Proactive Technologies, Inc.™ ALL RIGHTS RESERVED
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Quality Magazine – John Vandenbemden
The journey to create a standard is very interesting and requires attention to detail. Before a standard can be created one must develop the need and benefits for its development. The need for an inspection standard was presented to the ASQ Inspection Division by numerous organizations and members for several years. The ASQ Inspection Division management team decided to create a National Standard for inspection in 2017. Read Article
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QM 0522 Test & Inspection Measurement and Inspection Standards |
Quality Magazine Scott Ledger
As technology continues to evolve, it will take a lot of work from the standards community to help the industry keep pace with news tools for new manufacturing methods.
When it comes to the creation of measurement and inspection standards, it’s a multifaceted process.
The standards themselves are established and written by the American Society of Mechanical Engineers, but then published and sold by the American National Standards Institute (ANSI). In particular, the H213 Special Committee comprised of Dimensional and Geometrical Product Specifications and Verification experts. Read Article
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Top 5 Human Errors in Manufacturing |
Assembly Magazine
For products in the consumer, parts, food & beverage, and print & packaging markets, a significant portion of the manufacturing process still relies on manual tasks performed by human operators. Despite the buzz and excitement around robotics, AI, and Industry 4.0, humans are still an important part of manufacturing for assembly and inspection. This is particularly true for manufacturers specializing in short-run, custom, or specialty products where automating tasks can be complex and expensive.
Here are 5 common areas in manufacturing generating errors
Making mistakes at initial set-up
If you don’t read the instructions first, this job is not for you. Read Article
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‘Phage Therapy’ Successes Boost Fight Against Drug-resistant Infections |
The Guardian – Hannah Devlin, Science Correspondent
Two US patients have recovered from intractable infections after being treated with a pioneering therapy involving genetically engineered bacteria-killing viruses.
The cases raise hopes that so-called phage therapy could be used more widely to combat the global crisis of drug-resistant infections. One of the patients, Jarrod Johnson, a 26-year-old man with cystic fibrosis, was approaching death after suffering a chronic lung infection that resisted treatment by antibiotics for six years.
After being given the phage therapy, his infection cleared allowing him to receive a lung transplant and resume an active life. Read Article
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What is the Lifetime Risk of Depression? |
Our World in Data – Saloni Dattani
Depression is one of the most common health conditions globally. It’s estimated that between two to six percent of people in the world have experienced depression in the past year.1
But what are the chances that people have depression at any time in their lives?
This question is difficult to answer because depression is not a constant condition – people tend to transition in and out of depressive episodes. The chances of ever having an episode of depression are therefore much higher than the figure of two to six percent.
Researchers estimate that around one in three women and one in five men in the United States have an episode of major depression by the time they are 65. Read Article
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A Candlelight-like Glow from a Flexible Organic LED |
Phys.org - American Chemical Society
Giving off a comfortable glow, candles set the ambiance for a special dinner or just a quiet evening at home. However, some lighting alternatives, such as electronic candles, give off unwanted blue wavelengths that interfere with the body's circadian rhythm. Now, researchers reporting in ACS Applied Electronic Materials have fabricated an improved bendable organic LED that releases candlelight-like light for flexible lighting and smart displays that people can comfortably use at night. Read Article
Previously, Jwo-Huei Jou and other researchers developed organic LEDs that released warm-white light, similar to that produced by candles. However, the devices still emitted some blue wavelength light, which can interfere with sleep because it dampens the body's production of melatonin. These devices were made of solid materials and weren't flexible. Read Article
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Climate Change on Course to Hit US Corn Belt Especially Card, Study Finds |
Phys.org - Carol Clark, Emory University
Climate change will make the U.S. Corn Belt unsuitable for cultivating corn by 2100 without major Technological advances in agricultural practices, an Emory University study finds.
Environmental Research Letters published the research, which adds to the evidence that significant agricultural adaptation will be necessary and inevitable in the Central and Eastern United States. It is critical that this adaptation includes diversification beyond the major commodity crops that now make up the bulk of U.S. agriculture, says Emily Burchfield, author of the study and assistant professor in Emory's Department of Environmental Sciences. Read Article
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Cyber Security And IT News |
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US Agricultural Machinery Manufacturer Hit with Ransomware Attack |
IndustryWeek – Dennis Scimeca
Does a recent donation to a Ukrainian relief fund hold a clue as to the origins of the attack?
US agricultural machinery manufacturer AGCO today confirmed it was hit with a ransomware attack and anticipates adverse effects on business operations for at least several days.
The attack was first reported by French daily LeParisien as taking place against Massey-Ferguson corporate websites in France, Germany and China. According to the newspaper, nearly 1,000 employees were sent home from AGCO and GIMA production facilities in France. Read Article
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Tesla Hacker Demonstrates How to Unlock Doors, Start the Electric Motor |
Automotive News – Blooomberg
A hack effective on the popular S and Y Tesla cars would allow a thief to unlock a vehicle, start the electric motor and speed away, according to Sultan Qasim Khan, principal security consultant at security firm NCC Group.
Tesla Inc. customers might love the carmakers’ nifty keyless entry system, but one cybersecurity researcher has demonstrated how the same technology could allow thieves to drive off with certain models of the electric vehicles.
A hack effective on the popular S and Y Tesla cars would allow a thief to unlock a vehicle, start the electric motor and speed away, according to Sultan Qasim Khan, principal security consultant at the Manchester, UK-based security firm NCC Group. By redirecting communications between a car owner’s mobile phone, or key fob, and the car, outsiders can fool the entry system into thinking the owner is located physically near the vehicle. Read Article
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How Cybercrime Laws Are Used to Silence Dissent in Middle East |
DeutscheWelle
Middle Eastern countries are increasingly misusing cybercrime legislation to silence dissent and curb freedom of speech. Could a new global cybercrime framework under UN supervision save critics in the Middle East?
Saudi Arabia uses contemporary spyware and other modern technologies to observe what people think
The battlefield is gruesome, global and growing — cyberattacks have become a dangerous threat to governments, people and institutions all over the world.
In response, around 80% of the world’s countries have implemented cybercrime legislation, according to the United Nations Conference on Trade and Development. Read Article
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Cybersecurity Vulnerabilities Need Addressing |
CFO.com - Craig Callé
Strengthen cyber defenses by guiding organizational behavior and reducing tactical errors.Cybersecurity breaches still make headline news almost daily, though companies spend more money than ever on people and defensive technologies. This existential crisis cannot be eliminated, but it can be much better managed.
Bad actors come in many forms, from well-funded nation-states to undertrained employees clicking on the wrong links. Conventional warfare pits one army against another on an open field. In cyberwar, you rarely see them coming. Read Article
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Human Resource Management News |
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Is Your Company A Cool Place to Work? |
IndustryWeek – Adrienne Selko
Rockwell Automation’s strategy includes creating a workplace that is exciting and offers career growth.
Rachael Conrad knows a thing or two about both attracting and retaining workers. Employed at Rockwell Automation for 24 years, she has seen a lot. Currently a vice president and general manager of Global Services at the company, she says sometimes she feels like a career counselor.
“I think people seek me out as I have been with the company so long and my career has allowed me to develop a variety of skills,” she says. “I love the people I work with and I love the company mission.” Read Article
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Why Do Women Get Asked to Do Non-Promotable Work? |
IndustryWeek
Even female managers ask women more than men to volunteer for the thankless tasks.
Editor’s note: This article is an excerpt from the new book “The No Club: Putting a Stop to Women’s Dead-End Work” by Linda Babcock, Brenda Peyser, Lise Vesterlund and Laurie Weingart (May 2022: Simon and Schuster). The authors define non-promotable work as “tasks that matter to your organization, but will not help you advance your career.” They are tasks that are often invisible, not directly tied to the company’s mission and ones that many others can do.
One evening, Lise came to a club meeting with a confession. When her boss asked her to find volunteers to serve on several committees, she quickly found six people who all agreed, and after submitting the list to her boss, she realized that she had asked only women. It was ironic that she, of all people, would ask women and not men. She felt terrible for placing yet another burden on her female colleagues, and at our club meeting, she wondered, “How could I ask my female colleagues to take on this dead-end task? I am a horrible person.” We said, “no, you’re not. You’re just like everybody else.” That was our hunch, so we decided to investigate whether that was true and why that might be. Read Article
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Cognitive Ergonomics of Assembly Work |
Assembly Magazine
Managers should address the mental aspects of assembly work as much as the physical aspects.
While assembly work has always been physically demanding, little is known about the overall consequences of cognitive loading on assemblers’ performance, well-being, and the speed and quality of production. Cognitive under- or overloading can cause a lack of focus or distraction on one hand, or overwhelm on the other.
To learn more, we conducted a study to understand how work conditions affect cognitive demands and performance. Specifically, we wanted to learn the demands and resources that influence cognitive workload and performance in assembly work.
The study consisted of semi-structured interviews with 50 assemblers at three Swedish manufacturing companies: two automotive OEMs (Company A and Company B) and one automotive components supplier (Company C). The interviews were conducted individually at each company’s assembly plant. The workers represented a variety of experience levels, genders and ages. The questions were formulated to probe individuals’ work experience, understanding of their work tasks, what they perceived as enabling or hindering their work, and how the products or production tasks and work environment affected their ability to perceive signals, recall information from memory, solve problems and make decisions. Read Article
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Turnover to Jump 20% from Pre-pandemic Level |
EHS Today Staff
Some reasons for the increase are misalignment with leaders and a desire for flexibility.
While most companies realize that retention continues to be a big problem, the scope of the issue might be a surprise. In a new survey from Gartner, Inc., the firm reports that U.S. employee annual voluntary turnover is likely to jump nearly 20% this year, from a prepandemic annual average of 31.9 million employees quitting their jobs to 37.4 million quitting in 2022,
“New employee expectations, and the availability of hybrid arrangements, will continue to fuel the rise in attrition,” said Pier Hudson, senior director in the Gartner HR practice, in a statement. Read Article
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Manufacturing Wages Lag US Average in Era of Amazon |
IndustryWeek – Ryan Secard
Manufacturing wages were once a stable way to make solid middle-income wages. What does it mean if they’re not keeping up?
Manufacturing jobs aren’t what they used to be. Long seen as a dependable way to earn a middle-class living without a degree, the average manufacturing wages—according to U.S. Bureau of Labor Statistics data—have fallen behind average wages for the entire economy.
A superficial reading of the numbers would suggest that manufacturers are having difficulty hiring people because, in a post-Amazon world where anyone in almost any state can make $15 an hour in one of the commerce giant’s omnipresent warehouses, wages simply aren’t keeping up. But a closer look at the numbers, their history and the makeup of the manufacturing sector show that there’s more to it than that. Read Article
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Employee Health May be Key to Addressing the ‘Great Resignation’ |
EHS Today – Staff
Better healthcare options are a top reason employees are looking to leave their jobs.
How to keep workers is something that many companies are trying to figure out. A new survey, Health at Work, from Quest Diagnostics, suggests that better health strategies could keep workers on the job.
Two-thirds of employees (66%) say they are thinking about changing jobs next year or have begun or recently completed a job change.
Looking at the top reasons employees who were thinking of leaving their jobs gave, 38% said better benefits were a top reason while 36% wanted better healthcare options. Work/life balance was another concern for 36% of those surveyed. And money topped the last at 50% Read Article
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Environmental, Health & Safety News |
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How to Protect Workers from Falls from Height |
EHS Today – Nicole Stempak
OSHA’s annual Safety-Stand Down Week aims to prevent falls and reduce avoidable fatalities for construction workers.
Birds are chirping, bees are buzzing and lawn mowers are revving. These are sure signs of warmer weather, but there’s another harbinger of summer: construction work.
Unfortunately, the increase in construction work means greater risk of injuries. Falls from elevation remain a leading cause of death for construction employees, accounting for 351 of the 1,008 construction fatalities recording in 2020, according to data from the Bureau of Labor Services. Read Article
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Tips to Build Mental Strength |
EHS Today
Positive visualization, trying something new, control, confidence, and commitment are all ways to increase your mental strength.
Given that May is Mental Health Month, it seems appropriate to offer some ways that we can help increase our mental strength. These ideas aren’t meant to address serious mental health issues, but instead offer ways to deal with everyday situations.
In an article on CNBC, neuroscientist Wendy Suzuki, who is a professor of Neural Science and Psychology in the Center for Neural Science at New York University, offers some tips.
When thinking about all of the challenges that you might face, both big and small, she suggests that in each situation you “visualize the most optimistic and amazing outcome to the situation. Not just the “okay” outcome, but the best possible one you could imagine.” Read Article
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Do More than Just Send Messages During an Emergency |
EHS Today – Paul Shain
Mass notification systems now use mobile and critical event management capabilities to automate an organization’s safety plans.
When an emergency occurs that threatens work safety, most organizations know they need to alert people as quickly as possible to keep them out of harm’s way. Many have tools in place to let them do this, whether they’re alarms, sirens, strobes, or another means to share audio and visual alerts. This helps organizations address the most immediate concern of raising awareness about an issue, but the more challenging question is: What comes next?
The problem is that once that initial alert goes out, different people have various responsibilities to carry out. While a single tool can be used to share information at the onset of a crisis, organizations often rely on multiple tools that specific groups need to accomplish their role as an emergency response plan. This can be inefficient and confusing as people need to remember which tool to use and what tasks they are responsible for, resulting in precious seconds being lost. In a serious situation, those seconds can sometimes be the difference between safety and harm. Read Article
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Half of All Americans Have MSK Pain |
EHS Today – Staff
Musculoskeletal care consumes one-sixth of employer-sponsored plan dollars and costs $600 billion.
A new study, State of MSK Report, which sources its data from the CDC as well as the National Health Interview Survey (NHIS), representing over 252 million American adults, produced some rather startling results.
The first was that one in two Americans experiences back, neck, shoulder, or other musculoskeletal (MSK) pain in any given year.
The second is that the economic cost of MSK medical claims has doubled in the U.S. over the last decade, despite the population with MSK conditions remaining relatively constant. Read Article
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The Importance of Psychological Safety to Your Workforce |
EHS Today - Adrienne Selko
When employees can bring their best selves to work, the result is a safer and more productive environment.
Psychological safety is achieved when an employee feels that they can be their authentic self, especially in a team setting, and not suffer any negative consequences as a result. The realization that an employee should have a safe environment where they can be who they are every day at work is something that became especially important due to the pandemic. As companies and employees had to adjust to a variety of circumstances, a more open atmosphere was essential.
“When I think of psychological safety prior to the pandemic, it was always important to me as a leader,” explains Jean Angus, president and CEO of Saint-Gobain Life Sciences, a Solon, Ohio-based manufacturer of materials and solutions for the pharmaceutical, medical and biotech industries. “When I became the director of innovation processes at our Performance Plastics group, our goal was to help everyone be creative. I quickly realized that in order for everyone to bring their best ideas to the table, they had to feel they are working in a safe environment.” Read Article
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PG&E Must Explain Why It Spent Money on Campaign Donations Instead of Safety |
Courthouse News – Nicholas Iovino
A federal judge overseeing PG&E's criminal probation ordered the utility Wednesday to explain why it paid billions to stockholders and political candidates instead of using the money to fix known wildfire-safety problems with its power lines.
In a 2-page order, U.S. District Judge William Alsup ordered PG&E to respond to a bombshell Wall Street Journal report detailing how the company allegedly knew since 2013 that its high-voltage lines could spark wildfires but refused to upgrade them. Read Article
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Having trouble finding, selecting, training and keeping the skilled workers you need? Are your employee turnover costs a concern?
Let's start with what we already know:
- Classes alone will not train workers to perform your tasks...
- Quality Control policies and Process Documents are not a substitute for task training...
- Putting 2 people together and hoping for the best is not a training strategy...
- Wishing and hoping won't develop the skilled workers you need...
The cost of one worker malperformance or one worker's under-capacity or under-performance - due to lack of proper training - can more than justify the investment to train all your workers properly!
AND, unstructured, uncontrolled, undocumented task training is going on all day, every day. But if you cannot explain the process, you surely cannot measure and improve it.
Proactive Technologies's approach to structured on-the-job training takes place where, and while, the work is performed. You need no additional staff and structured on-the-job training does not interrupt your work schedule like unstructured, haphazard and ad hoc training or classroom learning does.
You probably have most of the pieces are already in place; they just need structure around them to make the training experience work for everyone through the accelerated transfer of expertise™.
As part of every project, Proactive Technologies provides the support to set-up, implement, manage, document and revise the worker development system so you can stay focused on business.
Copyright © 2019-22 Proactive Technologies, Inc.™ ALL RIGHTS RESERVED
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EMPLOYERS!
If your organization sees training as a cost, not as an investment, maybe you should consider another approach!
- Cuts the employer's internal costs of training;
- Lowers the costs associated with turnover;
- Drives new-hires and incumbent workers to "full job mastery;"
- Increases worker capacity, work quality, productivity and compliance (ISO/AS/IATF training and records requirement, engineering specifications and safety mandates);
- Creates framework for cross-training, retraining and worker certification;
- Establishes the framework for employer specific/job-specific apprenticeships and internships - registered or not;
- Builds career development tracks and succession plans for hourly (and salary) workers;
- Ensures the increased and maintained "Return on Worker investment" through any type of change...
ALL OF THIS FROM ONE APPROACH!
This structured on-the-job training is performed where, and while, the work takes place!
You need no additional staff, and this will not disrupt your work schedule or burden your existing staff!
If your firm is partnered with local career and technical educational institutions, use of shared employer's equipment, facilities and paid wages of trainer(s) and trainee(s) are attractive match for potential grant assistance.
for more information.
Copyright © 2019-22 Proactive Technologies, Inc.™
ALL RIGHTS RESERVED
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Copyright © 1988 - 2022 Proactive Technologies, Inc.TM
ALL RIGHTS RESERVED
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