According to Challenger, Gray & Christmas, US-based employers announced 82,307 job cuts in January, a 136% increase from 34,817 cuts announced in December.
Wood Markets News
US Weekly Jobless Claims Increase in the Week Ending January 27th
The advance figure for seasonally adjusted initial unemployment claims was 224,000, an increase of 9,000 from the previous week’s revised level of 215,000.
Tolko’s Lavington, BC, Sawmill Resumes Production Following Energy Transformer Issue
After an energy transformer issue eight weeks ago interrupted its power, Tolko’s Lavington, BC, sawmill returned to full production on Monday, The Vernon Morning Star reported.
Three Canadian Provinces Collaborating to Expand Opportunities for Encapsulated Mass Timber Construction
British Columbia, Ontario, and Quebec are collaborating in an effort to open more doors for encapsulated mass timber construction (EMTC), Construction Business News reported.
Mortgage Applications Decline in the Week Ending January 26th
Mortgage loan application volume decreased 7.2% on a seasonally adjusted basis from one week earlier, MBA reported.
ADP Reports Increased Private Sector Employment and Compensation Gains in January
Nonfarm private sector employment increased by 107,000 jobs in January and annual pay was up 5.2% year-over-year, ADP reported.
Canadian Real GDP Expanded 0.2% in November
Canadian real GDP grew 0.2% in November, after being essentially flat for the previous three months. Overall, 13 out of 20 industrial sectors posted gains.
Ontario Announces Forest Biomass Program Funding
Ontario is investing $9.4 million (CAD) in 14 initiatives to develop the emerging uses of underutilized wood and mill by-products, collectively known as forest biomass.
US Army Corps of Engineers Announces Groundbreaking Partnership to Research New Mass Timber Product
The US Army Corp of Engineers announced a partnership with the Composite Recycling Technology Center (CRTC), a non-profit corporation that designs, develops, and manufactures products that recycle carbon fiber scrap.
Home Price Growth Decelerates in November, S&P CoreLogic Case-Shiller Index Shows
The S&P CoreLogic Case-Shiller US National Home Price NSA Index reported an annual gain of 5.1% in November, up from a 4.7% rise in October.