The advance figure for seasonally adjusted initial unemployment claims was 224,00, an increase of 9,000 from the previous week’s revised level.
Wood Markets News
US Mortgage Rates Fall to Lowest Level in Over a Month
The 30-year fixed-rate mortgage averaged 6.69%, down from last week when it averaged 6.81%, Freddie Mac reported.
US Forest Service Announces New Policy for Monitoring National Forests and Grasslands
The US Forest Service announced a new policy for monitoring national forests and grasslands, an important step in implementing the agency’s 2012 planning rule.
Irving Paper to Temporarily Reduce Operations at Its Saint John, NB, Facility
Irving Paper will be shutting down 50% of its operations in Saint John, New Brunswick, beginning December 2nd and lasting for at least a week.
Metsä Group to End Production at Its Suolahti, Finland, Plywood Mill in Phases
Metsä Group has decided to close down the operations of the birch plywood mill by the end of 2025Q1, and operations at the spruce plywood mill will end by the end of 2026 at the latest.
US Nonresidential Construction Spending Contracts 0.4% in October
Nonresidential construction spending declined 0.4% in October, the Census Bureau and ABC reported. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.228 trillion.
UK Wood Pellet Imports Expected to Reach Record High in 2024
The UK is expected to import a record 9.641 million metric tons of wood pellets in 2024, Biomass Magazine reported.
US Mortgage Applications Increase in the Week Ending November 29th
Mortgage loan application volume increased 2.8% on a seasonally adjusted basis from one week earlier, MBA reported.
ADP® Reports Private Sector Employment and Compensation Both Increased in November
Private sector employment increased by 146,000 jobs in November, ADP reported. Year-Over-Year, annual compensation was up 4.8%.
West Fraser to Close One of Its Quesnel, BC, Sawmills for Seven Days
West Fraser will close one of its four facilities in Quesnel, BC, for seven days in the last two weeks of the year, The Quesnel Cariboo Observer reported.