According to data released on Wednesday (5-4-22) by United States Department of Agriculture’s (USDA) Foreign Agricultural Service, the U.S. exported 801,396.9 metric tons of wood pellets in March, up from 628,659.8 metric tons of wood pellets in February. This is a year-over-year increase of 667,309 metric tons.
Wood Markets News
Slowing UK Housing and RM&I Markets Return Timber Imports to Pre-pandemic Levels
According to the latest Timber Development UK (TDUK) statistics, a slower UK housing and RM&I market in Q1 2022 is being reflected in the timber import volumes. TDUK data shows that while timber import volumes are nearly -20% below February 2021 levels, they remain modestly above pre-pandemic levels of February 2020.
U.S. Nonfarm Payroll Increases by 428,000 in April; Unemployment Holds Steady at 3.6%
The U.S. Bureau of Labor Statistics reported today that total nonfarm payroll employment increased by 428,000 in April, following revised increases of 428,000 in March and 714,000 in February. In the first four months of 2022, nearly 2.1 million jobs were created, and monthly employment grew at an average rate of 519,000 jobs per month.
Canada’s Employment Rate Holds Steady in April, While Unemployment Declines to New Record Low
Statistics Canada reported today its Labor Force Survey for April 2022. Employment in Canada was little changed in April. Previously, employment increased by 409,000 (2.1%) during February and March, following losses in January, the result of the fifth wave of COVID-19. The unemployment rate edged down a further -0.1 percentage points to 5.2%.
Vaagen Fiber Canada’s Midway Mill Resumes Operation After a Four-Week Planned Shutdown
Vaagen Fibre Canada’s Midway Mill is back in operation following a four-week planned shutdown, which started on April 4, 2022. Plant Manager Darryl Reekie said the shutdown was a way to conduct a thorough check-up on the health of all machinery and ensure a smooth-running operation for the remainder of the year.
U.S. National Interagency Fire Center Wildfire Releases Update for May 5, 2022
In today’s briefing, the NIFC is reporting that 1 new wildfire was burning in Colorado. Nationally, nearly 3,400 wildland firefighters and support personnel are assigned to 10 large fires. The Southwest area continues to have the largest fire activity, where five incident management teams are assigned.
Mortgage Delinquencies Decrease in Q1 of 2022—Seventh Consecutive Quarterly Decline
According to the latest Mortgage Banker Association’s (MBA) National Delinquency Survey (NDS), released today (5-5-22), the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjust rate of 4.11% of all loans outstanding at the end of Q1 of 2022.
Mortgage Rates Climb Higher in the Week Ending May 5, 2022
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending May 5, 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 5.27% with an average 0.9 point, up from last week when it averaged 5.10%. A year ago, at this time, the 30-year FRM averaged 2.96%.
Job Cuts Increased, Hiring Decreased in April 2022
According to the latest Job Cut Report from Challenger, Gray & Christmas (CG&C), Inc, U.S.-based employers announced 24,286 cuts in April 2022. This is a 14% increase from the 21,387 cuts announced in March 2022, and it is up 6% year-over-year from the 22,913 cuts announced in April 2021.
Weekly Jobless Claims Unexpectedly Move Higher in the Week Ending April 30, 2022
The U.S. Department of Labor is reporting that an additional 200,000 Americans (seasonally adjusted) made their initial filing for unemployment benefits during the week ending on Saturday, April 30, 2022. This is an increase of 19,000 from the previous week’s revised level. The 4-week moving average was 188,000.