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.
Wood Markets News
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.
US Mortage Delinquency Rate Increases in Q4
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased in Q4, MBA reported.
US Weekly Initial Jobless Claims Increase in the Week Ending February 1
The advance figure for seasonally adjusted initial unemployment claims was 219,000, an increase of 11,000 from the previous week’s revised total.
Private Sector Job Cuts Increase Month-Over-Month in January
US-based employers announced 49,795 job cuts in January, a 28.0% increase from the 38,792 cuts announced in December, CG&C reported.
University of Arkansas to Host Mass Timber Exhibition Through March
The University will host “Tall Timber: The Future of Cities in Wood,” an exhibition highlighting the use of mass timber in multi-story buildings.