According to data released by US Department of Agriculture’s (USDA) Foreign Agricultural Service and reporting by Biomass Magazine, the US exported 632,043.8 metric tons of wood pellets in February. This is down from 637,518.4 metric tons in January.
Wood Markets News
Concord, New Hampshire, Municipal Airport Prepares for New Mass Timber Corporate Hangar
Concord, New Hampshire’s municipal airport is expanding with a new corporate hangar at the airport, according to reporting by the Concord Monitor. The new hangar is going to be built using mass timber construction.
Construction Sector Job Gains Slow in March
A closer look at the Bureau of Labor Statistics nonfarm payroll report for March reveals that both residential and non-residential employment totaled 7.9 million and exceeds its February 2020 level.
US Nonfarm Payroll Increases by 236,000 in March; Unemployment Inches Lower to 3.5%
The US Bureau of Labor Statistics reported Friday that total nonfarm payroll employment increased by 236,000 in March, compared with an average monthly gain of 334,000 over the prior 6 months.
Sonoco Products Company Sells 55,000 Acres of Timberland in South Carolina
Sonoco Products Company, a global packaging company, announced on Thursday that it has sold approximately 55,000 acres of timberland located in South Carolina to Manulife Investment Management on behalf of its client for the sum of $72 million.
30-Year Mortgage Rate Down; 15-Year Mortgage Rate Up
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending April 6th. The 30-year fixed-rate mortgage averaged 6.28%, down from last week when it averaged 6.32%. A year ago at this time, the 30-year rate averaged 4.72%.
University of New Hampshire Project Testing Use of Regional Softwood in Mass Timber Construction
The University of New Hampshire Cooperative Extension has begun work on a project that has the potential to increase the usage of the region’s timber industry, as well as supporting efforts to fight climate change, according to the New Hampshire Business Review.
US Weekly Jobless Claims Decrease for the Week Ending April 1st
The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 228,000 during the week ending on Saturday, April 1st. This is a decrease of 18,000 from the previous week’s revised level of 246,000.
Private Sector Job Cuts Up Month-Over-Month in March
According to the Challenger, Gray & Christmas, Inc. (CG&C) Job Cuts Report released Thursday, US-based employers announced 89,703 job cuts in March. This is up 15% from the 77,770 announced job cuts in February.
Can Hybrid Construction Practices Reduce the Building Industry’s Impact on the Environment?
In an article published in “pbctoday,” Liam Bryant, an associate at London-based Webb Yates Engineers, discusses the use of hybrid timber construction in meeting sustainability targets for construction projects.