The Bureau of Labor Statistics Occupational Employment Statistics (OES) Survey for 2019, with analysis provided by the National Association of Home Builders (NAHB), reveals that half of payroll workers in the construction trades earned more than $49,030 per year and the top 25% make at minimum $68.690.
Wood Markets News
Residential Construction Employment Continued to Grow in October
A closer look at the Bureau of Labor Statistics October’s Employment Situation Report focusing on construction employment reveals that October’s residential construction employment, was 11,500 higher than October 2019.
Job Growth Slows to +0.5% in Canada in October
According to Stats Canada the pace of job growth slowed in October as the economy added close to 84,000 (+0.5%) jobs in October compared with 378,000 in September. Self-employment increased for the first time (+1.2%; +33,000) for the first time since the onset of the COVID-19 pandemic.
Housing Affordability Continued its Decline in Q3 2020
According to the National Association of Home Builders (NAHB) / Wells Fargo Housing Opportunity Index (HOI) in Q3 of 2020, housing affordability continued to decline in spite of record low mortgage rates, which were offset by rising home prices and lack of available homes for sale.
October’s Nonfarm Payroll Employment Moves Higher for Sixth Consecutive Month
The U.S. Bureau of Labor Statistics (BLS) is reporting that total nonfarm payroll employment rose for the sixth consecutive month in October by 638,000.
Hankins Lumber Company Completes Purchase of LP Sawmill North of Elliott Mississippi
Hankins Lumber Company has announced that they have completed the purchase of the former Louisiana Pacific mill site, just north of their current operation in Elliott Mississippi. The purchase represents a $12.5 million corporate investment.
Respondents to FEA’s Weekly Order Survey Reported Experiencing Limited Follow Through from Last Week’s Modest Uptick in Jobsite Sales Activity
Respondents to FEA’s Weekly Order Survey reported experiencing limited follow through from last week’s modest uptick in jobsite sales activity. Dealers in the southern tier of states reported greater activity than their counterparts in the north, which is typical for this time of the year.
Norbord Inc., Announces Permanent Closure of 100 Mile House OSB Mill
Norbord Inc., announced today (11/5), that they are officially and permanently closing their oriented strandboard mill located in 100 Mile House British Columbia. Operations at the plant were suspended in early August 2019 and since then only a handful of workers have remained onsite for maintenance purposes.
Boston Firm Introduces New Catalogue with Mass Timber Design Systems
Led by Boston-based design firm Generate and including prominent local names like Consligli Construction and major international firms like Arup Engineering, the Tallhouse project is aimed at speeding up the adoption of mass timber building techniques and taking the risk out of the design and development process.
Canadian Lumber Products Increased 1.3% Year-Over-Year
As reported by Statistics Canada, Canadian lumber production increased 4.1% from July 2020 to August 2020. Year-over-year production was 1.3% above August 2019.