The U.S. Bureau of Labor Statistics (BLS) today (8-9-21) reported its Job Opening and Labor Turnover Survey (JOLTS) for June 2021. According to the JOLTS report, as of the last business day in June, the number and rate of job openings was at a series record high of 10.1 million, or +590,000.
Wood Markets News
Interfor Announces Plans to Restart Recently Purchased DeQuincy, Louisiana Sawmill
Interfor Corporation and Louisiana Gov. John Bel Edwards have jointly announced the planned restarting of operations at the sawmill in DeQuincy, Louisiana, which has annual lumber production capacity of 200 million board feet. Lumber production is expected to begin in the first half of 2022.
Sierra Pacific Industries Announces Plan to Purchase Seneca Sawmill
In a joint statement released on Thursday (8-5-21), Sierra Pacific Industries (SPI) and Seneca Sawmill announce their plans to combine the two businesses. Seneca currently operates a 175,000-acre tree farm, sawmills and a biomass plant in Oregon, and SPI is a lumber producer that manages more than 2.1 million acres of timberland in California and Washington.
North American Plywood Output Experiences Stronger Output Growth in Q2 2021 than OSB
According to quarterly statistics provided by the APA, The Engineered Wood Association, North American softwood plywood mills experienced even stronger growth in their output than OSB manufactures in the period between April and June of 2021, when compared with both Q1 and Q2 of 2020.
Canadian Employment Increases for Second Consecutive Month in July; Unemployment Modestly Declines
Statistics Canada (StatsCan) today (8-6-21) released the July Labor Force Survey (LFS), which reflects labor market conditions during the week of July 11 to July 17, 2021. According to the LFS, employment in Canada rose by 94,000 (+0.5%) in July, adding to an increase of 231,000 (1.2%) in June.
Nonfarm Payroll Employment Up; Unemployment Drops to 5.4% July 2021
The U.S. Bureau of Labor Statistics (BLS) reported today (8-6-21) that total nonfarm payroll employment increased by 943,000 in July, following a 938,000 increase in June, 559,000 increase in May, disappointing increase of 278,999 in April, and surge of 785,000 in March.
Deficit of Fire Suppression Personnel Hindering Canadian and U.S. Efforts to Contain Spreading Wildfires
Despite their differences on the forest products industry, Canada and United States have a long and steeped history and tradition of helping each other out when it comes to wildfire and firefighting reinforcements. That will not be case this year, as both countries contended with one of the earliest and most severe wildfire seasons in recent times.
Swiss Krono Group Invests $273.5 Million Towards the Construction of Russia’s Largest OSB Plant
The Russian News Agency, TASS, on Wednesday (8-4-21), reported that the Swiss Krono Group is making an investment of approximately 20 billion rubles ($273.5 million) towards the construction of Russia’s largest oriented strand board (OSB) plant in Sharya, located in the Kostroma Region.
Mortgage Rates Move Lower in the Week Ending August 5, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending August 5, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.77% with an average 0.6 points, down from last week when it averaged 2.80%. A year ago, at this time, the 30-year FRM averaged 2.88%.
Challenger Reports July Job Cuts Down -93% Year-Over-Year in July 2021
According to the latest Job Cut Report released from Challenger, Gray & Christmas (CG&C), Inc, a global outplacement and business and executive coaching firm, U.S. based companies announced 18,942 job cuts in July, down -93% from the 262,649 cuts announced in July 2020. Last month’s total is the lowest since in June 2000, when 17,241 job cuts were announced.