US-based employers announced 105,441 job cuts in April, down 62% from the 275,240 job cuts announced in March, CG&C reported.
Wood Markets News
US Weekly Initial Jobless Claims Increase in the Week Ending April 26
The advance figure for seasonally adjusted initial unemployment claims was 241,000, an increase of 18,000 from the previous week’s revised total.
US Real GDP Declines at an Annual Rate of 0.3% in Q1, BEA Reports in Its “Advance” Estimate
Real GDP declined at an annual rate of 0.3% in Q1, the BEA reported in its “advance” estimate. This follows an increase of 2.4% in 2024Q4.
US Pending Home Sales Rise 6.1% in March
The NAR Pending Homes Sales Index increased 6.1% to a reading of 76.5 in March. Year-over-year, sales were down 0.6%.
EFM and Sojitz Launch Climate-Smart Forestry and Carbon Fund
EFM and Sojitz Corporation will establish a $200 million forestry investment fund to generate high-integrity carbon credits and promote climate-smart forest stewardship across the US.
Mass Timber+ Conference Heads to Boston
Mass Timber+ will bring together suppliers, buyers, and specifiers in wood-based offsite construction this October in Boston.
US Mortgage Applications Decline in the Week Ending April 25
Mortgage loan application volume declined 4.2% on a seasonally adjusted basis from one week earlier, MBA reported.
Canadian GDP Declines in February, Offsetting January’s Gains
Canadian real GDP contracted 0.2% in February, partly offsetting January’s 0.4% increase.
ADP Reports Private Sector Employment and Compensation Both Increased in April
Private sector employment increased by 62,000 jobs in April, down from a 155,000 gain in March, ADP reported.
Michigan DNR to Sell Storm-Damaged Timber to Reduce Beetle Infestation and Wildfire Risk
The Michigan Department of Natural Resources will issue salvage timber sales due to the ice storm in March that affected 919,500 acres.