Statistics Canada (StatsCan) reported today (11-5-21) that after returning to its pre-pandemic level in September, employment held steady in October. Employment increases in a number of industries, including retail trade (+72,000), were offset by declines elsewhere, including accommodations and food service (-27,000).
Wood Markets News
Humboldt Sawmill Company Now Offering FSC® Certified Douglas-Fir
Traditionally known for their premium-quality redwood lumber products, including decking and timbers, Humboldt Sawmill Company also supplies Douglas-fir. The Douglas-fir produced by Humboldt comes with a particular difference — certification to the standards of the Forest Stewardship Council® (FSC® C013133).
Chinook Forest Partners Completes Purchase of 50,747 acres from Hampton Lumber and Family Forests
Chinook Forest Partners announced on Friday (10-29-21) that they had finalized the purchase of 50,747 acres of timberland in northwest Washington from Hampton Lumber and Family Forests. The acreage purchased by Chinook was originally part of Hampton’s 145,000-acre timberland purchase from Weyerhaeuser, which was completed earlier this year.
British Columbia’s Tall Wood Initiative Expands to 21 Communities
British Columbia’s tall wood initiative, which permits mass timber residential and commercial development up to 12 stories, is expanding with 21 communities now participating. The City of New Westminster is the latest to join the growing list of B.C. municipalities.
Mortgage Rates Fall in the Week Ending November 4, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending November 4, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 3.09% with an average 0.7 point, down from last week when it averaged 3.14%. A year ago, at this time, the 30-year FRM averaged 2.78%.
Weekly Jobless Claims Continued to Decline in the Week Ending October 30, 2021
The U.S. Department of Labor is reporting that an additional 269,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, October 30, 2021. This is a decrease of 14,000 from the previous week’s revised level and the lowest level for initial job claims since March 14, 2020, when it was 256,00.
Challenger Reports U.S. Job Cuts Increased 27.5% in October
According to the latest Job Cut Report from Challenger, Gray & Christmas (CG&C) Inc., a global outplacement and business and executive coaching firm, U.S.-based employers’ announced job cuts rose by 27.5% in October to 22,822 — up from the 17,895 announced in September. This is the highest monthly total since May 2021, when 24,586 cuts were recorded.
Huuay-aht First Nations Respond to B.C. Ministry of Forests’ Proposed Old Growth Deferral Plan
The British Columbia Ministry of Forests, Lands, and Natural Resource Operations announced their proposed old growth deferral based on the advice and recommendations of the Old Growth Technical Advisory Panel (TAP) established in 2021. According to a statement, from the Huuay-aht First Nations, deferrals within their traditional territory will not be implemented without further review by the first nations.
U.S. Wildfire Season Continues to Burn into November with Six Large Uncontained Wildfires Reported
The U.S. wildfire season continues to burn into November. Last Friday (10-29-21), the National Interagency Fire Center reported there are wildfire fighters deployed trying to contain 6 large wildfires burning on over 336,400 acres nationally. Three new large fires were reported on Friday — two in Texas and one in Colorado.
Glennon Brothers Completes Purchases of Co Fermanagh-based Balcas
In May, Glennon Brothers announced its plans to purchase Co Fermanagh, Ireland-based Balcas from its owner SHV Energy, subject to approval from competition regulators. Those approvals have now been completed. Balcas was established in Enniskillen, Northern Ireland in 1962 and consists of two divisions, Balcas Timber and Balcas Energy. Combined, the business has a turnover of £108 million a year.