StatCan reported that sawmill production declined 1.6% month-over-month to 4,008.9 thousand cubic meters in May.
Wood Markets News
Average Monthly Mortgage Payment Just Shy of All-Time High
Redfin reported that during the four-week period ending on July 30th, the typical US homebuyer’s monthly mortgage payment was $2,605 per month. That is up 19% year-over-year.
US National Interagency Fire Center Wildfire Update for the Week Ending August 4th
As of Friday, August 4th, 77 large wildfires have burned 449,194 acres in a dozen states. Seventeen large new wildfires were reported during the week.
US Nonfarm Payroll Increases by 187,000 in July; Unemployment Declines to 3.5%
Total nonfarm payroll employment increased by 187,000 in July. July’s increase is significantly less than the average monthly gain of 312,000 over the prior 12 months.
Canadian Employment Flat in July
Statistics Canada reported that employment in July was virtually unchanged, posting a loss of 6,000 jobs, or 0.0%. From January to July, monthly employment growth has averaged 22,000.
Sinclar Group to Reduce Sawmill and Planer Operations at Its Nechako Lumber Mill to a Single Shift
Sinclar Group announced that effective October 30th, it would be permanently reducing the operations of its sawmill and planer from two shifts a day to one shift at its Nechako Lumber facility in Vanderhoof, BC.
Canada’s Plan to Plant Two Billion Trees by 2030 is Ahead of Schedule
The Canadian Press reported that Canada’s Natural Resources Minister said the government’s ambitious plan to plant two billion trees by 2030 is ahead of schedule, but mitigating the effects of climate change is as important as adapting to them.
Nonresidential Construction Spending Slightly Higher in June
Nonresidential construction spending increased 0.1% month-over-month in June, according to the US Census Bureau and analysis by Associated Builders and Contractors.
Fixed-Rate Mortgages Climb Higher in the Week Ending August 3rd
Freddie Mac says the 30-year fixed-rate mortgage averaged 6.90%, up from last week when it averaged 6.81%.
Private Sector Job Cuts Fall in July
US-based employers announced 23,697 job cuts in July, according to Challenger, Gray & Christmas, Inc. This is down 42% from June.