32 states saw month-over-month employment gains in January, 17 lost construction sector jobs, and 2 were unchanged, the BLS and NAHB reported.
Wood Markets News
Consumer Price Index Increases 0.4% in February; All-Item Index Up 3.2% Year-Over-Year
The Consumer Price Index for All Urban Consumers increased 0.4% in February on as seasonally adjusted basis, after rising 0.3% in January.
US Asking Rents Climb 0.9% Month-Over-Month and 2.2% Year-Over Year in February
The median US asking rent increased 2.2% year-over-year to $1,981 in February, the largest gain reported since January 2023, Redfin reported.
NFIB Small Business Optimism Index Continues to Trend Lower in February
The NFIB Small Business Optimism Index declined to a reading of 89.4, marking the 26th consecutive month below the 49-year average of 98.
Hoffmann Family of Companies Aquires Besse Forest Products Group
Hoffmann Family of Companies has acquired Besse Forest Products Group, a leading manufacturer of high-quality Northern hardwood veneer, lumber, and specialty plywood.
Irving Forest Products Acquires Mill Services Inc.’s Value-Added Facility in Cobleskill, NY
Irving Forest Products announced that it has acquired Mill Services, Inc’s value-added operation in Cobleskill, New York.
Finland’s UPM Prepares to Temporarily Adjust Production Levels
Finland’s UPM announced that UPM Pulp, UPM Timber, and UPM Communication Papers will start change negotiations on possible temporary layoffs.
Total Outstanding Acquisition, Development, and Construction Loans Decline in 2023Q4
The volume of 1–4-unit residential construction loans made by FDIC-insured institutions declined 2.5% in 2023Q4, the NAHB reported.
Godfrey Forest Products Announces New OSB Mill in Jay, Maine
Godfrey Forest Products has announced plans to build a new OSB plant in Jay, Maine, Panel World Magazine reported.
Oregon Board of Forestry Votes to Advance Western Oregon State Forests Habitat Conservation Plan
The Oregon Board of Forestry voted 4–3 to advance the Western Oregon State Forests Habitat Conservation Plan, The Oregon Capital Chronicle reported.