Total nonfarm payroll employment increased by 177,000 in April, closely aligned with the average monthly gain of 152,000 over the prior 12 months.
Wood Markets News
Chemical Modification of Wood Could Replace Concrete With Iron-Infused Timber
Researchers have developed a process to enhance the strength and durability of wood by infusing red oak with ferrihydrite, a naturally occurring iron oxide mineral, the Sustainability Times reported.
US Construction Spending Declines in March
Construction spending in March was estimated at a seasonally adjusted annual rate of $2,196.1 billion, down 0.5% from the revised February estimate.
US Mortgages Rates Continue to Inch Lower in the Week Ending May 1
The 30-year fixed-rate mortgage averaged 6.76%, down from last week when it averaged 6.81%, Freddie Mac reported.
US Personal Income and Outlays for March
Personal income increased 0.5% at a monthly rate in March; disposable personal income increased 0.5%; and personal consumption expenditures increased 0.7%.
CSX Reaches 5-Year Agreements With Signalmen and Boilermakers Unions
New five-year agreements with the Brotherhood of Railroad Signalmen and the International Brotherhood of Boilermakers, Iron Ship Builders, Forgers & Helpers have been ratified.
Brazilian Exports of Wood-Based Products Increase Year-Over-Year in March
Brazilian exports of wood-based products (excluding pulp and paper) rose 18.0% in value year-over-year in March, the ITTO reported.
US Private Sector Job Cuts Slow in April
US-based employers announced 105,441 job cuts in April, down 62% from the 275,240 job cuts announced in March, CG&C reported.
US Weekly Initial Jobless Claims Increase in the Week Ending April 26
The advance figure for seasonally adjusted initial unemployment claims was 241,000, an increase of 18,000 from the previous week’s revised total.
US Real GDP Declines at an Annual Rate of 0.3% in Q1, BEA Reports in Its “Advance” Estimate
Real GDP declined at an annual rate of 0.3% in Q1, the BEA reported in its “advance” estimate. This follows an increase of 2.4% in 2024Q4.