NEWS

Just how big is Canada's forestry industry?

Answer: In 2022, the forest sector contributed $33.4 billion to Canada's nominal GDP and employed 212,660 people.

Read more: How Do Forests Benefit Canadians? → | Statistical Data →

Cabinetworks Group, the largest employer in Juniata County, PA, will close its Thompsontown assembly plant and lay off hundreds of employees. It was reported that employees received a letter from the CEO telling them that the plant would close on December 12. The letter cited the declining housing market as its reason for ending its multifamily direct sales business.

PHOTO © CABINETWORKS GROUP

U.S. imports of wooden furniture grew by 7% to $1.84 billion in July, the highest level since October 2022 and 10% higher than July 2023. Imports from Indonesia rebounded, up by 41% in July after having fallen about the same amount in June, and imports from both Vietnam and China increased by about 10%. Imports from Canada fell by 7%. U.S. imports of wooden furniture are up by 6% year-to-date.

The International Longshoremen's Association and U.S. Maritime Alliance have reached a standoff in contract negotiations that could shut down all ports along the East and Gulf Coasts. President Biden indicated that he would not impose an 80-day cooling-off period and force employees to continue to work while negotiations proceed. The Hardwood Federation and Forest Resources Association have asked President Biden to step in to stop a strike.

U.S. imports of hardwood plywood continue to grow in 2024. The value of imports rose by 26.6% and volume grew by 15.2% from January–July. Indonesia was the largest source of imports, contributing nearly $183 million. The volume of imports from Vietnam, the second largest source, soared by 123%.

PHOTO © JERRY GLASER