According to the Bureau of Labor Statistics (BLS) Job Openings Labor Turnover Survey (JOLTS), there was a clear and sudden stop associated with the COVID-19 pandemic and its impact on the construction labor market.
Wood Markets News
Total U.S. Consumer Credit Declines Further in April
According to the latest Federal Reserve’s G.19 Consumer Credit Report, consumer credit, excluding loads secured by real estate, decreased at a seasonally adjusted annual rate of 19.6%, through April of 2020.
British Columbia Exports Decline 15% in First Quarter of 2020 – Lumber Industry Hit Hard
British Columbia’s exports in the first quarter of 2020 fell by almost -15% when compared to the first quarter of 2019.
National Bureau of Economic Research Confirms U.S. Officially in a Recession
According to the National Bureau of Economic Research (NBER) the U.S. is now officially in a recession, the worst downturn since the Great Depression.
Canadian Housing Starts and Completion Trend Lower in May
According to Canada Mortgage and Housing Corporation’s monthly Starts and Completion Survey for May 2020, the trend in housing starts was 196,750 units in May 2020, down from 198,644 units in April 2020.
Cross-Laminated Timbers to Help Reduce Eastern Washington State’s Forest-Fire Season
Hillary Frantz is the head of the Washington State Commission of Public Lands and she is working diligently to find ways to shorten the state’s forest-fire season, with a special focus on Eastern Washington.
Canfor Announces Reopening of Houston and Polar Mills in B.C.
Canfor Corporation has announced that they will be reopening their Houston B.C. sawmill facility on Monday, June 8th, ending a lengthy shutdown which began in March.
Coalition of U.S. Loggers Associations are Requesting $2.5 Billion in Direct Aid from Congress
The Carolina Loggers Association and a collation of 19 additional associations have joined with the American Loggers Council in requesting $2.5 billion from Congress to support American loggers’ directly.
Multifamily Construction Continues to Grow Faster in Lower Density Population Areas
In a deeper dive into the latest analysis of the NAHB Geography Index, single-family construction was shown to be growing at a faster pace in regions with lower population density.
Unemployment Rate Declines in May Just as Nonfarm Employment Rises Sharply
According to the Bureau of Labor Statistics (BLS) total nonfarm payroll in May rose by 2.5 million and the unemployment rate declined to 13.3%.