Wood Markets News

Challenger Reports Job Cuts Increased Modestly Month-Over-Month in May 2021

According to the latest released (6-3-21), Job-Cut Report from Challenger, Gray & Christmas (CG&C), Inc — a global outplacement and business and executive coaching firm — U.S. based companies announced planned job cuts announced by U.S.-based employers rose 7% in May to 24,586 from the 22,913 announced in April. Last month’s total is down 93.8% from May 2020, when employers announced 397,016 cuts.

U.S. Weekly Jobless Claims Declined Further in the Week Ending May 29, 2021

The U.S. Department of Labor is reporting that an additional 385,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, May 29, 2021 — a decrease of 20,000 from the previous week’s unrevised level. This is the lowest level for this average of initial claims since March 14, 2020, when it was 256,000.

British Columbia Unveils New Timber Strategy that Will Boost Indigenous Engagement in Forestry

The British Columbia provincial government is promising to boost Indigenous engagement in forestry as it sets out on the largest series of policy updates for the sector since the early 2000’s. According to the strategy plan unveiled on Tuesday (6-1-21). there would be a near doubling in the amount of replaceable forest tenure held by Indigenous nations from the current levels of 10%.

British Columbia Announces Plans to Modernize Regulations on the Forest Industry

The British Columbia provincial government on Tuesday (6-1-21) released a paper that lays out far-ranging “policy intentions”, including diversifying the ownership of forest tenures, or harvesting rights, and establishing a framework of compensation in the event those rights are redistributed. The series of B.C. goals and an initial yearlong timeline will work towards modernizing the province’s regulation of the forest sector.