Private residential construction spending increased 1.3% in February, rebounding from a 1.2% dip in January, the Census Bureau and NAHB reported.
Wood Markets News
NCCC and IAM Announce Tentative Agreement
The National Carriers Conference Committee (NCCC) has reached a national tentative agreement with the International Association of Machinists and Aerospace Workers (IAM).
US Mortgage Applications Fall in the Week Ending March 28—Third Consecutive Decrease
Mortgage loan application volume decreased 1.6% on a seasonally adjusted basis from one week earlier, MBA reported.
ADP Reports Private Sector Employment and Compensation Both Increased in March
Private sector employment increased by 155,000 jobs in March. Year-over-year, annual compensation was up 4.6%.
Mercer Mass Timber Helps Power Sustainable Construction for Walmart’s Landmark Office Campus
Mercer Mass Timber had a key role in the construction of Walmart’s new Home Office in Bentonville, Arkansas—the largest mass timber corporate campus in the US.
US Construction Spending Rises 0.7% in February
Construction spending during February was estimated at a seasonally adjusted annual rate of $2,195.8 billion, 0.7% above the revised January estimate.
US Residential Construction Job Openings Rise in February, but Remain Well Below Year-Ago Levels
The number of open construction sector jobs increased from a revised 242,000 in January to 264,000 in February, the BLS and NAHB reported.
US Nonresidential Construction Spending Reaches Record High in February
Nonresidential construction spending increased 0.3% in February, ABC and the Census Bureau reported. On a seasonally adjusted annual basis, spending totaled $1.255 trillion.
US Job Openings and Labor Turnover Summary for February
The number of job openings was little changed at 7.6 million. Year-over-year, the number of job openings was down 877,000.
Brazilian Exports of Wood-Based Products Decline Year-Over-Year in February
Brazilian exports of wood-based products (except pulp and paper) in February decreased 8.5% in value year-over-year, the ITTO reported.