EACOM Timber Corp. has announced that their Timmins sawmill is back in operation after a temporary shutdown last week due to a COVID-19 outbreak that was reported on May 12, 2021 at the site. The sawmill is currently running one shift instead of the usual two.
News in covid 19
EU27 +UK Imports of Plywood Drop for Second Year in a Row
Impacts of the COVID-19 pandemic and the United Kingdom (UK) leaving the European Union (EU) has resulted in the EU27 +UK in -7% decrease of plywood and other woods in 2020, this on the heals of a -14% decline in 2019.
Fannie Mae Tightens Standards Loans on Investment Property
In a letter sent to sellers on Wednesday (3-10-21), Fannie Mae, the government sponsored entity (GSE), said it was tightening the underwriting criteria for second homes and investment properties.
New Family Home Size Stabilize in Q4 2020 as Pandemic Shifts Consumer Preferences
According to Q4 2020 data from the U.S. Census Bureau’s Quarterly Starts and Completion by Purpose and Design and analysis provide by the National Association of Home Builders (NAHB), new home sizes did level off in 2020 after years of decline. This was driven by the impact of the COVID-19 pandemic and home buyers’ need for additional space as people use their homes for more purposes.
Construction Job Openings End 2020 Lower
The U.S. Bureau of Labor Statistics (BLS) has reported that the unemployment rate fell by 0.4% point to 6.3% in January, while nonfarm payroll employment changed little (+49,000).
Total Consumer Credit Ends 2020 Flat
According to the latest (2-5-21) Federal Reserve’s G.19 Report, the economic recession caused by the COVID-19 pandemic derailed the consumer credit’s trajectory growth rate for all of 2020. Revolving credit, of which credit card debt is a major component, shrank by -11.2% over the year, while nonrevolving credit increased 3.9%, thus producing an overall growth rate of 0.0%.
Canadian Unemployment Increases 0.6% in January to 9.4%
Statistics Canada (StatCan) is reporting that January employment fell by 213,000 or -1.2%. The decline in January followed a 53,000 decline or -0.3% in December, bring employment to its lowest level since August 2020. Most of the January losses were in part-time work and concentrated in the Ontario and Quebec retail sectors and in Newfoundland and Labrador.
January 2021 Nonfarm Payroll Employment Numbers Basically Unchanged from December 2020
The U.S. Bureau of 0Labor Statistics (BLS) is reporting that total nonfarm payroll employment was basically unchanged in January 2021, increasing by only 49,000 from December. According to the BLS the improvement in the labor markets reflects the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it.
U.S. Census Bureau Releases Housing Vacancy Survey for Q4 2020
The U.S. Census Bureau has released its Housing Vacancy Survey (CPS/HVS) for Q4 2020. According to the report U.S. homeownership rate declined to 65.8% in Q4. Year-over-year the national homeownership vacancy rated decreased, while the rental vacancy rate was flat.
ADP Reports Private Sector Employment Increased by 174,000 Jobs in January
According to the August ADP National Employment Report® nonfarm private sector employment increased by 174,000 jobs from December to January. The ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics.