Nonfarm private sector employment increased by 140,000 jobs in February, and annual pay was up 5.1% year-over-year, ADP reported.
Wood Markets News
US Job Openings and Labor Turnover Summary for January
As of the last business day in January, the number of job openings changed little at 8.9 million.
New US Single-Family Home Production Showed Signs of Improvement in 2023Q4
Single-family growth rates saw a turnaround in 2023Q4, led by large urban metro markets, the NAHB reported.
Schilliger Holz Produces First CLT Panel at Its Facility in Vogelsheim, France
On February 8th, Schilliger Holz produced the first CLT panel at its newly upgraded Schilliger plant in Vogelsheim, France.
US Nonresidential Construction Spending Declines in January, Ending 19 Consecutive Monthly Gains
US nonresidential construction spending declined 0.4% month-over-month in January, the Associated Builders and Contractors and Census Bureau reported.
Canadian Government Finalizes Deals With Cities to Help Accelerate Home Building
Canada announced that the federal government has signed 179 housing deals via the $4 billion (CAD) housing accelerator fund, The Canadian Press reported.
Home Buyers Need to Earn $47,000 More a Year Than in 2020 to Comfortably Afford a Home
Homebuyers need to make in excess of $106,000 a year to comfortably afford a home, 80% more than in January 2020, Zillow reported.
Canadian Lumber Production and Shipments Decline Month-Over-Month but Increase Year-Over-Year in December
Canadian lumber production declined 22.6% month-over-month to 3,432.4 thousand cubic meters in December.
US Private Single-Family Construction Spending Increases in January
Construction spending rose 0.2% in January, the second consecutive gain, the Census Bureau and NAHB reported.
Mercer Mass Timber Launches New Construction Services Division
Mercer Mass Timber announced the launch of its mass timber erection division: Mercer Mass Timber Construction Services.