US-based employers announced 172,017 job cuts in February, the highest total for the month since 2009, CG&C reported.
Wood Markets News
US Weekly Initial Jobless Claims Decline in the Week Ending March 1
The advance figure for seasonally adjusted initial unemployment claims was 221,000, a decrease of 21,000 from the previous week’s unrevised total.
BC’s Vienna House Showcases Mass Timber as a Solution to Affordable Multi-Family Housing
Vienna House explores and highlights mass timber as a solution to help alleviate the current shortage of affordable multi-family housing.
US Forest Service Offers Salvage Timber in North Carolina to Reduce Wildfire Risk
The Forest Service is offering contracts to remove downed but still commercially usable trees left by Hurricane Helene on 2,200 acres of the Pisgah National Forest.
Kronospan Acquires Sawmill in Sebes, Romania, From the Ziegler Group
Kronospan announced the acquisition of ZG Timber’s sawmill in Sebes, Romania, from the Ziegler Group, following the insolvency of Ziegler Holding in 2024.
Mortgage Applications Increase in the Week Ending February 28
Mortgage loan application volume increased 20.4% on a seasonally adjusted basis from one week earlier, MBA reported.
ADP Reports Private Sector Employment and Compensation Both Increased in February
Private sector employment increased by 77,000 jobs in February, and annual compensation was up 4.7% year-over-year, ADP reported.
US Single-Family Construction Ends 2024 With Growth, While Multifamily Declines
The continued shortage of existing homes for sale has helped to keep new single-family construction growing across all regions, NAHB reported.
China Suspends Imports of US Logs
Chinese customs authorities announced the suspension of US log imports effective immediately, the Global Times reported.
Stimson Lumber Details Plans to Expand Its Forest Grove, OR, Sawmill
The new mill building, if approved, will house a 350-foot-long HewSaw line made by Finland-based company Veisto-Oy, the Gales Creek Journal reported.