Private sector employment increased by 152,000 jobs in May and annual compensation gains held steady at 5.0% year-over-year, ADP reported.
Wood Markets News
Canadian Lumber Production and Shipment Data for March
In March, lumber production in Canada increased 1.0% to 4,397.3 thousand cubic meters. However, year-over-year, production was down 8.5%.
Robbins Lumber Company Sells Its Hancock, ME, Sawmill to Jordan & Sons; Property to Be Used for Other Purposes
Robbins Lumber Co. has reached an agreement with Elliott Jordan & Sons Inc. to sell its Hancock sawmill, which it acquired from Pleasant River Lumber Company in 2023.
US Construction Job Openings and Labor Turnover for April
Following an upwardly revised estimate of open construction employment in March (from 274,000 to 346,000), the April estimate shows a further decline to 338,000 jobs.
US Commercial Mortgage Delinquency Rate Increases in Q1
The Mortgage Bankers Association reported that according to its latest Commercial Delinquency Report, commercial mortgage delinquencies increased in Q1.
Western Washington University Expansion Includes Mass Timber Construction
Western Washington University is in the process of expanding its ABET-accredited programs for electrical engineering, computer engineering and science, and energy science.
US Job Openings and Labor Turnover Summary for April
As of the last business day in April, the number of job openings was 8.1 million, little changed from the 8.5 million reported in March.
US Monthly Construction Spending Declines 0.1% Month-Over-Month in April
Total construction spending during April was estimated at a seasonally adjusted annual rate of $2,099.0 billion, 0.1% below the revised March estimate.
US Private Residential Construction Spending Inches Higher in April
Spending on private single-family construction crept 0.1% higher in April, the Census Bureau and NAHB reported. This marks the twelfth consecutive monthly increase.
EU Formally Adopts Extension of Birch Plywood Antidumping Measures for Kazakhstan and Turkey
The EU has formally adopted the extension of anti-dumping measures on birch plywood imports to include those from Kazakhstan and Turkey, Timber Industry Magazine reported.