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Seasonal Hiring Brings Little Cheer; Exxon Mobil Digs into Lithium Mining

By Paul Page

 

The U.S. Postal Service says it will hire about one-third of the seasonal workers added last year. PHOTO: MARIO TAMA/GETTY IMAGES

Hiring trends suggest little holiday cheer in retail supply chains. Businesses from store owners to logistics operators need fewer extra workers for seasonal jobs this fall after fighting in recent years to hire staff to stock shelves, fill boxes and deliver packages during the year-end rush. The WSJ’s Austen Hufford reports the number of advertised seasonal positions is down to the lowest level in a decade, according to Challenger, Gray & Christmas. The National Retail Federation estimates that between 345,000 and 445,000 seasonal workers will be hired this year, down as much as 40% from a recent high in 2021. Logistics companies including United Parcel Service and XPO say they’re keeping hiring flat this year while others are bringing on fewer seasonal workers than they did last year. Labor Department figures show job openings in the warehousing, transport and utilities sector were down 14.6% in September from last year.

  • The Global Port Tracker estimates container imports into major U.S. ports fell 4.2% in October from the same month last year. (Logistics Management)
 
 

Quotable

“The peak season holiday hiring is nothing like it had been in previous years.”

— Brian Devine, CEO of warehouse-staffing agency Ignite Industrial Professionals
 
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Commodities

Exxon says it will call its new product Mobil Lithium. PHOTO: ELI HARTMAN/ASSOCIATED PRESS

Exxon Mobil is moving to mine profits in the sector competing with fossil-fuel producers. The energy giant is starting to drill lithium in Arkansas, the WSJ’s Collin Eaton reports, with plans to start producing the mineral for use in electric-vehicle batteries by 2027 and becoming a major supplier to manufacturers by 2030. The company’s entry into the lithium business, first reported by the WSJ in May, is an effort to position itself long-term for the advent of EVs and electrification in the transportation sector. The operation is launching into a troubled market. Lithium prices have plunged more than 60% this year through early October as new supplies have hit the market, and the growth in EV sales has eased. Exxon expects light-duty vehicle demand for internal combustion fuels will peak around 2025. It projects EV sales globally would climb almost 25% and lithium demand would quadruple by 2030.

  • Truck maker Volvo Group acquired electric-vehicle battery manufacturer Proterra in a bankruptcy court auction. (Post and Courier)
 

Number of the Day

7.1%

Decline from September to October in available loads posted on the truckload van spot market, while posts for available trucks increased 14.1% from month to month, according to DAT Solutions.

 

In Other News

Jeep-maker Stellantis is preparing to offer a new round of buyouts to roughly half of its U.S. white-collar employees. (WSJ)

Hyundai Motor is raising wages for factory workers at plants in Alabama and Georgia by 25% over four years. (WSJ)

German car parts supplier Continental is cutting thousands of jobs in its automotive division. (Financial Times)

The cyberattack against DP World’s Australian container terminals was the latest in a series of breaches at ports around the world. (Agence France-Presse)

China’s quarterly imports of semiconductor manufacturing equipment rose more than 90% over last year. (Nikkei Asia)

The U.S. is investigating 30 ship management companies over suspected violations of sanctions on Russian oil. (Reuters)

India’s Unic Tanker Ship Management is taking over nine former Gatik tankers to transport Russian oil. (Lloyd’s List)

Trucker Forward Air asked a court to terminate its proposed merger with freight forwarder Omni Logistics. (Journal of Commerce)

Trucker Old Dominion Freight Line is raising rates an average of 4.9% next month. (Trucking Dive)

Greek shipowner Capital Product Partners is buying 11 new liquefied natural gas carriers in a pivot away from the container market. (Splash 247)

The ports of Los Angeles and Long Beach have $60 million in funds to help companies acquire zero-emission Class 8 trucks. (Supply Chain Dive)

Australia is advancing plans to develop a strategic shipping fleet reserve. (The Loadstar)

U.K. regulators fined Royal Mail about $6.8 million for failing to meet delivery targets "by a significant and unexplained margin." (BBC)

 

About Us

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on X at @WSJLogistics.

 
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