The National Federation of Independent Business reported on Tuesday its NFIB Small Business Optimism Index (SBOI) for February. According to the report, the February SBOI increased 0.6 points to a reading of 90.9—the fourteenth consecutive month that the SBOI has been below the 49-year average reading of 98.
Wood Markets News
Additional Financial Aid Available for Nova Scotia Private Woodlot Owners Impacted by Hurricane Fiona
Nova Scotia has announced that private woodlot owners will be receiving additional support to help them recover from the damage caused by Hurricane Fiona and promote the growth of healthy forests.
State-Level Construction Sector Employment Situation for January
A closer look at the US Bureau of Labor Statistics (BLS) Nonfarm Payroll Report for January reveals 40 states reported an increase in January when compared to December 2022. Conversely, 7 states reported jobs sector losses. Mississippi remained unchanged.
Alaska Legislature Looks to Move Lumber Evaluation Into Local Sawmill Operators’ Hands
A bill has been introduced into the Alaska State Senate that would allow local lumber to be used more readily in building projects in the state, reporting from KBBI shows. According to a press release from the Alaska Senate Majority, the state is struggling to meet an ongoing housing shortage.
Timber Imports into UK Decreased in 2022, but Outlook for Timber Usage Remains Optimistic
According to recently released statistics from Timber Development UK (TDUK) and reporting by the Timber Trades Journal, imports of the main timber and panel products in 2022 were 2.4 million m3 lower than in 2021. TDUK, however, sees reasons for a brighter outlook in 2023.
Stora Enso Teams With Plywood Manufacturer Paged to Replace Fossil-Based Glue With Lineo
Polish plywood manufacturer Paged has selected Stora Enso’s lignin product, Lineo, to replace fossil-based glue in its plywood manufacturing process, according to reporting by Timber Trades Journal Online.
Chantiers Chibougamau Receives $7.5 Million in Financial Support From Quebec
The Quebec provincial government announced last Thursday that it is awarding $7.5 million (CAD) in financial support to Chantiers Chibougamau to increase its mass timber production capacity at its Chibougamau facilities and modernize the management of its activities.
US Wood Pellet Exports Down Month-Over-Month and Year-Over-Year in January
According to data released on Wednesday by United States Department of Agriculture’s Foreign Agricultural Service and reporting by Biomass Magazine, the US exported 637,518.4 metric tons of wood pellets in January, down from 917,175.4 metric tons in December.
US Nonfarm Payroll Increases by 311,000 in February; Unemployment Inches Higher to 3.6%
The US Bureau of Labor Statistics reported Friday that total nonfarm payroll employment increased by 311,000 in February, compared with an average monthly gain of 343,000 over the prior 6 months. The unemployment rate increased to 3.6% in February.
US Rent Increases Continued to Slow in February
Redfin reported on Friday that the median US asking rent increased 1.7% year-over-year to $1,937 in February. This marks the smallest increase in nearly 24 months and the lowest level in a year. A year earlier, rents were up nearly 10 times that much: 16.5%.