28 states reported month-over-month employment gains in April, the BLS and NAHB reported.
Wood Markets News
US Housing Starts and Completions Climb in April, but Permits Decline
Privately‐owned housing starts in April were at a seasonally adjusted annual rate of 1,360,000, 5.7% above the revised March estimate of 1,287,000.
Alberta Launches Value-Added Wood Products Program
Alberta Forestry and Parks is collaborating with Alberta Wood WORKS! and the Alberta Forest Products Association to administer the Alberta Value-Added Wood Products Program.
Fixed-Rate Mortgages Fall in the Week Ending May 16th—Second Consecutive Drop
The 30-year fixed-rate mortgage averaged 7.02%, down from last week when it averaged 7.09%, Freddie Mac reported.
US Mortgage Delinquency Rate Up Quarter-Over-Quarter and Year-Over-Year
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.94% of all loans outstanding at the end of Q1, MBA reported.
US Weekly Jobless Claims Decline in the Week Ending May 11th
The advance figure for seasonally adjusted initial unemployment claims was 222,000, a decrease of 10,000 from the previous week.
US Forest Service to Invest $74 Million in Wood Products Innovation, Energy, and Capacity
The Forest Service is investing $74 million to spark innovation, create new markets for wood products and renewable wood energy, and increase the capacity of wood processing facilities.
Western Canadian Provinces Already Dealing With Onset of Out-of-Control Wildfires
Firefighters in western Canada are in the process of battling the first major wildfires of 2024, Reuters reported.
Consumer Price Index Increases 0.3% in April; All-Items Index Up 3.4% Year-Over-Year
The Consumer Price Index for All Urban Consumers increased 0.3% in April on a seasonally adjusted basis, following a 0.4% increase in March.
US Builder Confidence Drops in May
The NAHB/Wells Fargo Housing Market Index showed that builder sentiment in the market for newly built single-family homes fell 6 points in May.