Employment held steady in February, up only 1,100 jobs. This follows three consecutive monthly increases that added 211,000 jobs in November, December, and January.
Wood Markets News
BIG Unveils Design for Mass Timber Airport in Bhutan
BIG recently unveiled its design for Bhutan’s Gelephu International Airport, utilizing mass timber, Building, Design+Construction reported.
US Median Asking Rent Increases 0.4% Year-Over-Year in February
The median US asking rent rose 0.4% year-over-year to $1,607 in February, Redfin reported. This is the first increase in six months and the biggest in nine months.
President Trump Delays Tariffs on USMCA Goods Imported From Canada and Mexico Until April 2
Trump suspended the 25% tariffs he imposed earlier this week on most goods from Canada and Mexico until April 2, Reuters reported.
US Pending Home Sales Fall 6.4% Year-Over-Year in February
Pending home sales fell 6.4% year-over-year in the four-week period ending March 2, Redfin reported.
US Mortgage Rates Continue to Decline in the Week Ending March 6
The 30-year fixed-rate mortgage averaged 6.63%, down from last week when it averaged 6.76%, Freddie Mac reported.
Profura Repurchases Two Zeigler Sawmills in Sweden
Profura has repurchased Green Wood Sverige AB, with its two sawmill subsidiaries Bäckebrons Sagverk AB and Balungstrands Sagverk AB, from the Zeigler Group.
UK’s James Donaldson Timber Expands, Adding a Manufacturing Facility
UK timber supplier James Donaldson Timber has leased a new 110,000-square-foot, purpose-built manufacturing facility in Chorley, UK.
US Private Sector Job Cuts Soar in February
US-based employers announced 172,017 job cuts in February, the highest total for the month since 2009, CG&C reported.
US Weekly Initial Jobless Claims Decline in the Week Ending March 1
The advance figure for seasonally adjusted initial unemployment claims was 221,000, a decrease of 21,000 from the previous week’s unrevised total.