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Supply
Chain by the Numbers |
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- July 14, 2022
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Changing Global Demographics; Walmart Making Big Electric Van Buy; June Inflation off the Charts; US Union Activity Rising |
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8 Billion |
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That’s how many people will live on earth sometime later this year, according to new data from the United Nations Population Division. It’s only been 11 years since we soared past the 7 billion population milestone, which is the fewest years it’s ever taken to add a billion people to the planet. Some, however, predict total global population will peak at 10-12 billion maybe 8 decades from now. The number of people is growing even as fertility rates fall, as for now globally they are still above replacement levels, while increasing life expectancy is another factor. Also interestingly, the UN report says India is expected to overtake China as largest country by population by 2023. |
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| That as you may have heard was the annualized rate of inflation (Consumer Price Index) in June versus same month 2021, according to data this week from the Bureau of Labor Statistics. That marked the fastest pace for inflation going back to November 1981. Excluding food and energy, inflation was reported as a milder 5.9%, as if consumer weren’t impacted by price hikes in those areas. Taken together, the numbers seemed to counter the narrative that inflation may be peaking, as the gains were based across a variety of categories. For workers, the numbers showed the large impact, as inflation-adjusted incomes, based on average hourly earnings, fell 1% for the month and were down 3.6% from a year ago. |
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4500 |
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That’s how many new age electric delivery van Walmart is ordering from a company called Canoo – and it could not have come at a better time for the financially troubled firm. That according to a press release from Canoo on Tuesday. Canoo ended the first quarter with just $105 million in cash, and warned in May of substantial doubt about its ability to continue as a going concern. But Canoo shares doubled in value on the Walmart news. That jump took Canoo’s market valuing to about $1.2 billion. However, its market capitalization is still down from about $4.8 billion in late 2020 right after it went public. The company recently moved its headquarters to Walmart’s hometown of Bentonville, Arkansas. |
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That is how many workplaces where employees started trying to organize unions in the first half of 2022, the highest level in half a dozen years. Workers no doubt feel emboldened by a tight labor market, strong support from the Biden administration, and what appears to be greater approval by the general public. Of the 1,411 workplaces, about 400 (representing more than 21,000 workers) have already voted in favor of a union. Around 150 (representing almost 7,800 workers) have voted against organizing. The remaining petitions have either been withdrawn or are awaiting a vote. The workers filing petitions this year include some at Amazon, Starbucks, Chipotle Mexican Grill, and an Apple store. Whether this will start a reversal of a long-term decline in US union membership remains be seen.
