Wood Markets News

Canfor’s Houston, B.C. Sawmill to Resume Full Production Operations

January 4, 2022 · Lumber

Canfor Corporation announced on Wednesday (12-29-21) that their Houston, B.C. mill, which has been dealing with cutbacks as a result of challenging market conditions since late summer, will resume full operations effective Monday, January 23, 2022. According to Rosemary Silva, Canfor’s External Relations Senior Advisor, “Currently, we have limited staff performing special projects and preparatory maintenance work…”

GO Lab Inc. to Build First North American Wood-Fiber Insulation Factory in Madison, Maine

January 4, 2022 · Timber

GO Lab Inc., a Belfast, Maine startup, has closed on the sale of $85 million in bond funding and completed a New Markets Tax Credit transaction that will fund the construction of a wood-fiber insulation factory at the former UPM paper in Madison. If construction work goes as planned, GO Lab expects to be producing its TimberHP loose-fill insulation in Q1 of 2023, followed by wood fiber batt and board products in Q2 and Q3.

Strike at UPM Finland Facilities Will Not Impact UPM Plywood or Timber Mills

January 4, 2022 · International Markets

UPM, a Finish forest industry company, has a labor-based strike ongoing at several of their pulp, biofuels, communications, and specialty paper plants located in Finland. The strike, however, does not impact nor concern UPM Plywood and UPM Timber mills, both of which signed business specific collective bargaining agreement with the Industrial Union in December.

Construction Job Openings Gain Year-Over-Year in November

January 4, 2022 · End Use

A closer look at the Bureau of Labor Statistics (BLS) Job Openings and Labor Turn Over Survey (JOLTS) for November — with an emphasis on the construction labor market and additional analysis provided by the National Association of Home Builders (NAHB) — reveals that the construction labor market remains tight as the number of quits accelerated. According to the report, the number of open/unfilled construction positions in November dropped to 345,000, or -4.4%.

Job Openings and Labor Turnover Summary Released for November 2021

January 4, 2022 · End Use

On Tuesday (1-4-22) the U.S. Bureau of Labor Statistics (BLS) reported the Job Openings and Labor Turnover Summary (JOLTS) for November 2021. According to the JOLTS report, as of the last day in November, the number of job openings decreased to 10.6 million (-529,000 or -6.6%). The number of hires was increased to 6.7 million in November, up from October’s 6.5 million. The hire rate was 4.5% up from 4.4% in October.