US-based employers announced 45,836 job cuts in November, a 24% increase from the 36,836 job cuts announced in October, according to the Challenger, Gray & Christmas, Inc.
Wood Markets News
US Weekly Jobless Claims Increase in the Week Ending December 2nd
The advance figure for seasonally adjusted initial unemployment claims was 220,000 during the week ending December 2nd, an increase of 1,000 from the previous week’s revised level of 219,000.
BC’s Klahoose First Nation Signs Landmark Forest Tenure Agreement With Interfor
The Klahoose First Nation has signed a deal with Interfor to purchase a tenure of 181,036 cubic meters of annual cut of forest lands located on the Sunshine Coast in the Nation’s traditional territory, the Campbell River Mirror reported.
BC Announces Amendments to the Province’s Lumber Regulations
BC announced that it was adding new amendments to its lumber regulations. BC says they will provide more opportunities for wood products to be manufactured in the province.
Mortgage Applications Increase Again in the Week Ending December 1st
Mortgage loan application volume increased 2.8% on a seasonally adjusted basis from one week earlier, according to data from the Mortgage Bankers Association.
Stora Enso Celebrates the Opening of Wooden Architectural Landmark in Stockholm, Sweden
Stora Enso is celebrating the opening of a wooden architectural landmark building in the courtyard of Sweden’s National Museum of Science and Technology in Stockholm, Sweden, the company announced.
Bank of Canada Holds Interest Rate Steady at 5% as Economy Continues to Cool
On Wednesday, the Governing Council of the Bank of Canada has decided to hold its benchmark interest rate steady at 5%, CBC reported.
ADP® Reports Increased Private Sector Employment and Compensation Gains in November
Nonfarm private sector employment increased by 103,000 jobs in November, and annual pay was up 5.6% year-over-year, according to the ADP® National Employment Report™.
Canfor to Pause Production at All BC and Alberta Sawmills Between Christmas and New Year’s Day
Energeticcity.ca reported that Canfor has said it will pause operations at all of its lumber mills in British Columbia and Alberta for three non-statutory days during the holiday week.
US Commodity Futures Trading Commission Proposes Plan to Increase Oversight of Carbon Credit Markets
The US Commodity Futures Trading Commission (CFTC) proposed guidance for companies seeking to list voluntary carbon credits for trading, Reuters reported.