Stora Enso has issued a layoff warning affecting about 60 workers at its sawmill operations in Skoghall and Grums, Finland, SVT reported.
Wood Markets News
US Job Cuts Fall 37% in September
US employers announced 54,064 job cuts in September, down 37% from August, CG&C reported. Year-to-date, hiring plans hit their lowest level since 2009.
Japan to Reuse Osaka Expo’s Grand Ring Timber for Housing Recovery
Japan will reuse timber from Osaka Expo’s Grand Ring for public housing as part of recovery efforts after last year’s disasters, The Japan Times reported.
Fannie Mae Panel Lowers Home Price Growth Outlook for 2025 and 2026
Fannie Mae’s Q3 survey shows home price growth averaging 2.4% in 2025 and 2.1% in 2026, both lower than last quarter’s expectations.
Brazilian Exports of Wood-Based Products Decline 18% Year-Over-Year in August
Brazilian wood product exports fell 18.0% year-over-year in August to $220.5 million, led by sharp declines in pine plywood and sawnwood.
Metsä Group to Launch Statutory Negotiations on Job Cuts Amid Cost-Saving Program
Metsä Group will start statutory negotiations that could cut 800 jobs, mainly in Finland, as part of a €300 million cost savings and efficiency program.
US Mortgage Rates Rise in the Week Ending October 2
The 30-year fixed-rate mortgage averaged 6.34%, up from 6.30% the previous week, Freddie Mac reported.
Canadian Construction Employment Falls Again in July
Canadian construction payrolls fell by 2,200 in July, the second straight monthly decline, while job vacancies hit their lowest rate since 2017.
US Construction Labor Market Continues to Cool in August
Construction job openings fell to 188,000 in August, down from 303,000 in July and 304,000 a year earlier, the BLS and NAHB reported.
Share of US Mortgage Rates Above 6% Climbs to 10-Year High in Q2
Nearly 20% of US homeowners had mortgage rates above 6% in Q2, the highest since 2015, Redfin reported.