StatCan reported today that the total value of building permits in Canada increased 11.9% in August to $ 12.5 billion (CAD). On a constant dollar basis (2012=100), the total value of building permits increased 10.0% to $7.5 billion.
Wood Markets News
US Construction Job Openings Increased in August, Even as Housing Slows
A closer look at the Bureau of Labor Statistics Job Openings and Labor Turnover Survey, with a focus on construction, reveals that the count of open, unfilled jobs declined 10% in August. The number of open construction jobs trekked higher, rising from 353,000 in July to 407,000 open positions in August.
ADP Reports Private Sector Employment Gains and Increased Compensation in September
According to the September ADP® National Employment Report™ released today, nonfarm private sector employment increased by 208,000 jobs in September, and annual pay was up 7.8% year-over-year. “We are continuing to see steady job gains,” ADP’s chief economist said.
Mortgage Applications Decline in the Week Ending September 30, 2022
According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending September 30, 2022, the Market Composite Index decreased 14.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index declined 14.0% compared with the previous week.
Enviva Holds Ribbon-Cutting Ceremony for the World’s Largest Pellet Plant in Lucedale, Mississippi
Dozens of state and local elected officials joined Maryland-based Enviva Biomass at a ribbon cutting ceremony on Friday in Lucedale, Mississippi, as the world’s largest wood pellet plant reached near full operational capacity level.
Mercer International Completes Acquisition of HIT
Mercer International, a global forest products company with operations in Germany, the US, and Canada, announced on Monday that it has completed its previously announced acquisition of all of the shares of the parent company of HIT.
US Home Prices Decline for Second Consecutive Month, According to Black Knight Data & Analytics
Black Knight Inc. on Monday released its latest Mortgage Monitor Report (MMR) for August. The median home price in August declined 0.98%, a slight improvement from July’s monthly decline of 1.05%.
Job Openings and Labor Turnover Summary Released for August 2022
On Tuesday, the US Bureau of Labor Statistics (BLS) reported the Job Openings and Labor Turnover Summary (JOLTS) for August 2022. The number and rate of job openings decreased to 10.1 million (11.1 million in July) and 6.2%, respectively.
Canadian Consumer Confidence Drops to Near-Record Lows
According to the Bloomberg Nanos Canadian Confidence Index (BBCCI) released on Monday, Canadian consumer confidence has dropped to near-record lows again amid growing concerns about the global economy.
Interfor Announces Agreement to Purchase New Brunswick-Based Chaleur Forest Products
Interfor Corporation announced today that it has reached an agreement with an affiliate of the Kilmer Group to acquire 100% of the equity interests in the entities comprising Chaleur Forest Products. Chaleur owns two sawmills in New Brunswick with a combined annual lumber production of 350 million board feet.