U.S. job market feeling effects of Japan disaster
The Japan disaster is starting to affect the neighbors on the other side of the world’s largest ocean.
The United States added less than a third of jobs expected in May, with just 54,000 jobs being created after it was projected that over 165,000 new jobs would be created.
The struggling job market, combined with the larger-than-expected dip in the U.S. Institute for Supply Management’s (ISM) Purchasing Managers’ Index (PMI) may lower economic expectations for the rest of 2011.
A report on The Daily Commercial News notes that the Japan disaster is at least a contributing factor in the current stagnant economy. The numbers show that manufacturing numbers in the United States is suffering.
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A separate set of numbers offers some optimism, however. The U.S. Non-manufacturing index shows positive growth, however, which is a good sign. Also, online advertised job openings rose by close to 150,000 last month to a pre-recession high of 4.47 million, which indicates that job growth should increase in the near future.
Author of the report in The Daily Commercial News John Clinkard writes:
As the effects of supply chain disruptions are resolved and given the exceptionally stimulative financial conditions in both Canada and in the U.S., growth in both countries should strengthen in the second half of the year.
While the Japan disaster continues to disrupt global supply chains and hurt regional economies, the short-term outlook in the United States isn’t as bad as the numbers indicate. The number of jobs available and an expected production rise in the second half of 2011 should allow the United States economy to enjoy steady growth for the rest of the year.
Tradeshift: Pioneering eProcurement and Digital Trade
Tradeshift helps transportation and logistics organisations digitally transform their processes. The company offers a suite of services, including spend management, accounts payable and invoice automation, eprocurement, and supplier collaboration through a dedicated B2B supply chain marketplace of more than one million businesses.
As disruption and digitisation continue to accelerate, demand for Tradeshift’s solutions has grown dramatically. The company recently announced the signing of 20 new global enterprise customers since the beginning of its financial year on 1 February, while the number of active businesses transacting on the Tradeshift platform rise by 52 per cent year on year.
Tradeshift Chief Revenue Officer Christope Bodin expects that growth trajectory to continue, as the economy begins to fully reopen and the world works towards recovering from the pandemic. “We are well positioned to support the wholesale digitalisation of business processes,” Bodin said. “For organisations looking to grow in a post-COVID economy, this is fast becoming an organisational standard.”
Tradeshift in Brief
- HQ: San Francisco, USA
- Employees: 800 located in offices in 13 countries
- Customers: 500+ in 190+ countries
- Total on-platform transaction value: $1tn
- Platform: 1.5m companies connected
Key Tradeshift customers: Volvo, Kuehne+Nagel, DHL, Air France-KLM Group
Tradeshift: From $1 to $1 trillion
The company was established with a mission to “connect every company in the world, digitally,” according to Lanng, and followed the trio's earlier product EasyTrade, a pioneering open-source trade platform.
In July 2021, just over a decade since launch, Tradeshift announced passing a new milestone: the cumulative value of transactions processed across its platform passed the $1 trillion threshold. To put that in perspective, Tradeshift said it took two years to reach the $1bn milestone.
Commenting on Tradeshift’s current and future standing, chief executive Christian Lanng said: “We’ve helped a lot of businesses to stay operational and get paid during an extremely volatile period. Every time a business joins our platform it unlocks a whole ecosystem of relationships that we can help to digitise. This sets us apart from the majority of enterprise software providers who remain preoccupied with building connections one at a time.”