Employment declined by 33,000 (0.2%) in March, the first decrease since January 2022.
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Canadian Sawmill Production Increases 16.2% in January
Lumber production increased 16.2% in January to 3,871.6 thousand cubic meters. Year-over-year, production was down 3.1%.
Intelligent City Starts Production on 9-Story Mass Timber Building in Toronto
Intelligent City has officially started on the production of a 9-story mass timber residential building in Toronto.
Typical US Homebuyer’s Monthly Payment Hits New Record High for Second Consecutive Week
The typical US homebuyer’s monthly payment hit a record high, reaching $2,802 during the four-week period ending March 30, Redfin reported.
US Mortgage Rates Tick Lower in the Week Ending April 3
The 30-year fixed-rate mortgage averaged 6.64%, down from last week when it averaged 6.65%, Freddie Mac reported.
US Weekly Initial Jobless Claims Trend Lower in the Week Ending March 29
The advance figure for seasonally adjusted initial unemployment claims was 219,000, a decrease of 6,000 from the previous week’s revised total.
US Job Cuts Soar in March
US-based employers announced 275,240 job cuts in March, a 60% increase from the 172,017 cuts announced in February, CG&C reported. Year-over-year, cuts were up 205%.
President Trump Announces 10% Baseline Tariff; Higher Rates on Certain Countries
Trump announced a 10% baseline tariff on imports from all countries and higher tariff rates on dozens of nations, AP reported.
US Residential Construction Spending Rebounds in February
Private residential construction spending increased 1.3% in February, rebounding from a 1.2% dip in January, the Census Bureau and NAHB reported.
NCCC and IAM Announce Tentative Agreement
The National Carriers Conference Committee (NCCC) has reached a national tentative agreement with the International Association of Machinists and Aerospace Workers (IAM).