The U.S. Department of Labor is reporting that an additional 853,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday December 5th. An increase of 137,000 from the previous week’s revised level.
Wood Markets News
Consumer Price Index Increased in November
The U.S. Bureau of Labor Statistics (BLS) is reporting that the Consumer Price Index (CPI), excluding the volatile food and energy components (“core” CPI) was 0.2% higher on a seasonally adjusted basis after being reported flat in October.
Area Loggers Disappointed that Jay Maine Mill Pulp Digester Will Not be Rebuilt
A news release on Wednesday (12/9) by Pixelle Specialty Solutions’ that the pulp digester destroyed in an explosion at its Jay Maine mill in April will not be rebuilt was a serious blow to members of the Professional Logging Contractors of Maine (PLCM).
B.C. Government Halts Logging Planned for Critical Habitat for Endangered Caribou Herd
Following criticism from conservation groups, scientist and the public, the B.C. government has announced that they are stepping back from their initial plans to log a critical habitat for an endangered caribou herd in an old-growth valley north of Revelstoke.
Oregon Governor Provides Update on Memorandum of Understanding Between Parties Committed to Forest Health
Oregon Governor Kate Brown has provided an update on the historic Memorandum of Understanding (MOU) she brokered back in February between 12 timber and forest products companies, the Oregon Small Woodlands Association, and 13 environmental and fisheries organizations to amend Oregon forest practices is moving forward.
Mass Timber Products Could Hold Key to Reduction in Wildfires
Recent wildfires have ravaged forested areas along the West Coast and other parts of North America. It is easy to point to climate change for the severity of the problem. However, another problem, which is man-made also must shoulder some of the blame and can now be part of the solution.
Trade Tensions Between Australia and China Continue to Increase
The tension between Australia and China moved another notch higher with an official notice from China’s Customs Authority on 12/3, which notified Australian exporters that they had detected a pest (with no further specifics) in shipments of logs from South Australia and Tasmania and would therefore not accept any additional shipments from those areas.
Job Opening and Labor Turnover Survey for October 2020
The U.S. Bureau of Labor Statistics (BLS) has posted its Job Opening and Labor Turnover Survey (JOLTS) for October 2020. According to the JOLTS report the number of job openings was little changed from September at 6.7 million, which is a rate of 4.5%, as of the last business day of October.
Mortgage Applications Decreased -1.2% in Week Ending December 4th, 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending December 4th, 2020, The Market Composite Index, a measure of mortgage loan application volume, decreased -1.2% on a seasonally adjusted basis from one week earlier.
Pinnacle Renewable Energy’s New High Level, Alberta, Mill Starts Up Production
Pinnacle Renewable Energy announced on Wednesday (12/8) that it has started initial pellet production at its newly constructed facility in High Level, Alberta. The mill is owned in a 50 – 50 limited partnership with Tolko Industries Ltd.