Not seasonally adjusted, the US construction unemployment rate was 5.2% in December, up 0.8% year-over-year, ABC reported.
Wood Markets News
UK Extends Biomass Energy Agreement With Drax but Reduces Subsidies
The UK and Drax reached a new deal that will halve the energy producer’s subsidies over 2027–31, while ensuring the group uses more sustainable sources of woody biomass, Reuters reported.
Tallest Commercial Mass Timber Building in New South Wales, Australia, is Approved
Sydney, Australia, will soon become home to a 13-story high-rise recently approved for development, according to a feature by Architecture, Au.
US Housing Sentiment Edges Higher in January Even as Affordability Concerns Grow
The Fannie Mae Home Purchasing Sentiment Index increased 0.3 points to a reading of 73.4 in January, recovering slightly after falling in December for the first time since July.
US Construction Sector Employment Growth Slows in January
Overall employment in the construction sector increased by 4,000 in January, down from a 13,000 increase in December, the BLS and NAHB reported.
US Nonfarm Payroll Increases by 143,000 in January; Unemployment Falls to 4.0%
Nonfarm payroll employment increased by 143,000 in January. The unemployment rate edged down to 4.0%, reflecting annual adjustments to population controls.
University of Michigan Releases Preliminary Results of Its Consumer Sentiment Index for February
The University of Michigan Index of Consumer Sentiment declined to a reading of 67.8 in February. This is a month-over-month decline of 4.6% and down 11.8% year-over-year.
Canadian Employment Increases in January; Unemployment Trends Lower
Employment increased 0.4%, or 76,000 positions. The unemployment rate fell 0.1 percentage points to 6.6%.
US Wood Pellet Exports Retreat in December
The US exported 879,332.3 metric tons of wood pellets in December, down from 973,783.9 metric tons in November, Biomass Magazine and the USDA reported.
US Mortgage Rates Fall for Second Consecutive Week in the Week Ending February 6
The 30-year fixed-rate mortgage averaged 6.89%, down from last week when it averaged 6.95%, Freddie Mac reported.