On Wednesday, the Governing Council of the Bank of Canada has decided to hold its benchmark interest rate steady at 5%, CBC reported.
Wood Markets News
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.
BC to Fund 19 New Projects Through Forest Enhancement Society of BC
BC announced funding for 19 new projects through the Forest Enhancement Society of BC to reduce wildfire risk, lower greenhouse gas emissions, and provide recovered fiber to mills and bioenergy facilities.
Construction Sector Job Openings and Labor Turnover Survey Results for October
The construction labor market remained active and tight in October, according to NAHB analysis of Census Bureau data.
Commercial Mortgage Delinquency Rate Increases Again in Q3
The number of commercial mortgage delinquencies increased for the third consecutive quarter in Q3, the Mortgage Bankers Association reported.
US Job Openings and Labor Turnover Survey for October
As of the last business day in October, the number of job openings declined to 8.7 million, a loss of 617,000 job openings. The job opening rate decreased by 0.3 percentage points to 5.3%.
A Detailed Look at Private Residential Construction Spending in October
At a seasonally adjusted annual pace of $884 billion, total private residential construction spending was 0.7% higher year-over-year, according to the Census Bureau and NAHB.
Domtar’s Espanola, Ontario, Pulp and Paper Mill in Final Stages Needed to Idle the Plant
Domtar’s Espanola Pulp and Paper mill in Ontario has entered the final stage needed for the idling of the plant, Nip Impressions reported, citing local news sources.