Employment in the construction sector increased by 19,000 in February, the BLS and NAHB reported. Residential construction gained 12,700 jobs.
Wood Markets News
Labor Dispute Interrupts Production at Three UPM Plywood Mills in Finland
A strike has halted work at UPM’s plywood mills in Ristiina, Savonlinna, and Joensuu, Finland, Maaseudun Tulevaisuus reported.
US Wood Pellet Exports Decline in January
The US exported 825,269.9 metric tons of wood pellets in January, down from 879,332.3 metric tons in December, the USDA and Biomass Magazine reported.
US Nonfarm Payroll Increases By 151,000 in February; Unemployment Ticks Up to 4.1%
Total nonfarm payroll employment increased by 151,000 in February, similar to the 143,000 gain reported in January.
Canadian Employment and Unemployment Levels Hold Steady in February
Employment held steady in February, up only 1,100 jobs. This follows three consecutive monthly increases that added 211,000 jobs in November, December, and January.
BIG Unveils Design for Mass Timber Airport in Bhutan
BIG recently unveiled its design for Bhutan’s Gelephu International Airport, utilizing mass timber, Building, Design+Construction reported.
US Median Asking Rent Increases 0.4% Year-Over-Year in February
The median US asking rent rose 0.4% year-over-year to $1,607 in February, Redfin reported. This is the first increase in six months and the biggest in nine months.
President Trump Delays Tariffs on USMCA Goods Imported From Canada and Mexico Until April 2
Trump suspended the 25% tariffs he imposed earlier this week on most goods from Canada and Mexico until April 2, Reuters reported.
US Pending Home Sales Fall 6.4% Year-Over-Year in February
Pending home sales fell 6.4% year-over-year in the four-week period ending March 2, Redfin reported.
US Mortgage Rates Continue to Decline in the Week Ending March 6
The 30-year fixed-rate mortgage averaged 6.63%, down from last week when it averaged 6.76%, Freddie Mac reported.