The Bureau of Economic Analysis (BEA) is reporting that personal income in July, increased to a seasonally adjusted annual rate (SAAR) of 420,043 billion. Up 0.4%, after a -1.0% drop in June.
Wood Markets News
Residential Construction Employment Grows in August but Nonresidential Construction Employment Declines
A closer examination of the Bureau of Labor Statistics (BLS) August total nonfarm payroll employment report, looking specifically at the construction sector, reveals that residential construction employment rose by 27,700 in August to 2.9 million.
Brazilian Exports of Wood-Based Products Increased 14.8 % in July 2020
According to the International Tropical Timber Organization the value of Brazilian exports of wood-based products (except pulp and paper) increased 14.8% in July to $268.8 million, when compared to July 2019, $ 234.1 million.
Total Nonfarm Employment Rises in August as Unemployment Falls
According to the Bureau of Labor Statistics (BLS) total nonfarm employment increased by 1.4 million in August, and the unemployment rate fell to 8.4%.
Number of Homes For Sale in U.S. Declines for Twelfth-Straight Month in July
According to Redfin, a Seattle based technology-powered residential real estate company, the number of homes for sale declined for the twelfth-straight month in July, plunging near 20% to just 1.9 million homes – the lowest level of any month of July on record.
Kalesnikoff Mass Timber Selected Use at Three Canadian Educational Institutional Projects
Kalesnikoff, North America’s most advanced, vertically integrated, multi-species mass timber manufacture, located in Castlegar British Columbia, Canada, has announced three new mass timber projects at Canadian educational institutions.
Resolute Forest Products Thunder Bay Sawmill Passes Four Billion Board Feet of Processed Construction Grade Lumber Milestone
Resolute Forest Products, Thunder Bay sawmill has just passed an important milestone.
Mortgage Rates Inch Higher But Still Remain Below 3% in Week Ending 3rd September 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 3rd September 2020.
Redfin Reports Housing Sales and Home Prices Continue to Grow
According to Redfin, the Seattle-based real estate brokerage, for the four-week period ending August 23rd, the U.S. housing market experience strong sales and price growth, with the seasonally adjusted Redfin Homebuyer Demand Index (RHDI) up 29% from pre-pandemic levels in January and February.
Employers Announce 115,762 Job Cuts in August
According to Challenger, Gray & Christmas, Inc., a Chicago-based global outplacement and business executive coaching firm, job cuts announced by U.S.-based employers in August totaled 115,762.