According to the monthly report released today (10/1) from Challenger, Gray and Christmas Inc., a global outplacement and business and executive coaching firm, job cuts announced by U.S. based employers jumped to 118,804 in September, up 2.6% from August’s total of 115,762.
Wood Markets News
Weekly Jobless Claims Decline in the Week Ending 26th September 2020
The U.S. Department of Labor is reporting that an additional 837,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday September 26th. An decrease of 36,000 from the previous week’s revised level.
Total U.S. Construction Spending up Year-Over-Year 2.5% in August
The U.S. Census Bureau has announced that total construction spending during August 2020, was estimated at a seasonally adjusted annual rate (SAAR) of 1,412.8 billion, 1.4% above the revised July estimate of $1,392.7 billion.
Report Finds B.C. Interior Douglas-Fir Forests Are Not Being Managed to Full Healthy Forest Potential
New research conducted by the B.C. Forest Practices Board (FPB) offers an illustration of how climate change is going to alter the province’s landscape, as well pointing out potential shortcomings in current management practices.
Oregon and California Wildfires Rekindle Debate about Protection of the Northern Spotted Owl
The debate over the protections of the Northern spotted owl have come back front center due to the wildfires that have and continue to ravage the West Coast. Opponents say the protections have prevented logging that would have thinned out forests and made the blazes less intense and destructive.
Russian President Putin Instructs Government to Stop the Uncontrolled Export of Unprocessed Timber
Russian President Vladimir Putin on Wednesday (9/30) instructed the government to stop the uncontrolled export of untreated timber following a meeting on the development and decriminalization of the timber industry.
Canadians Remain Optimistic About Housing Even as the Second Wave of COVID-19 Starts
According to the latest Nanos Research for Bloomberg News poll, Canadians are increasingly optimistic about housing, even as the country finds itself in the grips of the second wave of the COVID-19 pandemic.
U.S. Home Prices Rose 4.8% Year-Over-Year in July
According to the S&P CoreLogic Case-Shiller U.S. National Home Price Index, strong homebuyer demand in July, combined with historically low mortgage interest rates propelled home prices higher in major markets across the U.S.
Mortgage Applications Decline in Week Ending September 25th, 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending September 25th, 2020, the Market Composite Index, a measure of mortgage loan application volume, decreased -4.8% on a seasonally adjusted basis from one week earlier.
Pending Home Sales Increase 8.8% in August – New Record High
The National Association of Realtors® (NAR) is reporting that their Pending Homes Sales Index (PHSI), which is based on signed real estate contracts, not actual closings, for existing single-family homes, condos, and co-ops, increased 8.8% in August to a reading of 132.8 – a record high.