Employment in the construction sector increased by 2,000 jobs in November, down from 25,000 new jobs in October, according to the NAHB and BLS.
Wood Markets News
University of Michigan Reports Upbeat Preliminary Results of Its Consumer Sentiment Index for December
The University of Michigan Index of Consumer Sentiment increased 13.2% month-over-month and 16.1% year-over-year.
US Nonfarm Payroll Increases by 199,000 in October; Unemployment Falls to 3.7%
Total nonfarm payroll employment increased by 199,000 in November, and the unemployment rate declined by 0.2% to a reading of 3.7%.
S&R Sawmills in BC to Receive $4 Million Grant to Upgrade Its D Mill Facility
S&R Sawmills, which has a facility on the Langley-Surrey, BC, border, will receive up to $4 million in the latest grants from the BC Manufacturing Jobs Fund, the Aldergrove Star reported.
Total Value of Canadian Building Permits Increases 2.3% Month-Over-Month in October
The total value of building permits in Canada, led by gains in the non-residential sector, increased 2.3% from September to $11.2 billion (CAD) in October.
VIDA Announces Major Investment at Its Bruza Sawmill in Hjältevad, Sweden
VIDA AB, owned 70% by Canfor Corporation, announced that it will invest approximately 700 million SEK, or $85 million (CAD), at its Bruza Sawmill in Hjältevad, Sweden.
Fannie Mae Home Purchase Sentiment Index Remains Low in November
The Fannie Mae Home Purchase Sentiment Index® declined 0.6 points in November, remaining within the bounds of the low-level plateau it established in the first half of 2023.
Mortgage Rates Continue to Fall, Nearing 7% in the Week Ending December 7th
The 30-year fixed-rate mortgage averaged 7.03%, down from last week when it averaged 7.22%, Freddie Mac reported.
Private Sector Job Cuts Increase Month-Over-Month but Decline Year-Over-Year in November
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.
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.