LBM Update: US Housing, Global Sawlog Prices and a Bill Delaying New Overtime Pay Regulations

US housing construction to increase by 13.4% in 2016

Economic recovery, a drop in unemployment figures as well as an increase in the number of private households are expected to lead to a rise in demand for housing in the USA over the course of the current year. Against this background the US National Association of Home Builders (NAHB) expects an increase of 13.4% vis à vis last year to a total of 1.26m units in the number of new housing construction starts.

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Sawlog prices on the skids in many markets as demand falters

Sharp reductions of sawlog prices in Russia, Brazil, Central Europe and Western Canada in 2015 due to weaker lumber demand and currencies reduced trade of logs, reports the Wood Resource Quarterly. European sawlog prices have fallen faster than prices in most other regions.

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NLBMDA Applauds Introduction of Bill Delaying New Overtime Pay Regulation

The National Lumber and Building Material Dealers Association (NLBMDA) applauds introduction yesterday of the Protecting Workplace Advancement and NLBMDA-LogoOpportunity Act in the House of Representatives and Senate, which would delay publication of the U.S. Department of Labor’s (DOL) expected regulation dramatically expanding mandatory overtime pay. Introduced by Rep. Tim Walberg (R-MI) and Sen. Tim Scott (R-SC), the legislation requires DOL to conduct a comprehensive economic analysis on the impact of mandatory overtime expansion to small businesses, nonprofits, and public employers.

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