JUN 2023
“Following a record year of profits, ZIM’s first quarter results reflected the significant decline in freight rates and weak demand, particularly in the Transpacific trade, that began last year.”
I QUIT!
The labor supply chain has changed since the pandemic. People no longer want to work in highly physically demanding positions without proper compensation. While job opening rates in the US are about 50% higher than before, the labor force is nearly 5 million people smaller, per McKinsey & Co.
What’s striking about the current labor challenge is that, unlike in the past, higher wages alone have not led to positions being filled, they added.
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