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Tag Archives: Lumber Prices
Construction Employment Starting to Rebound
Though payrolls came in just below expectations, one positive take away from this morning’s data was the 30 thousand increase in construction jobs. Almost all of the increase was in residential. These are relatively well paying jobs compared to … Continue reading
Posted in Employment, Uncategorized
Tagged Construction hiring, Housing, Lumber Prices, Nonfarm Payrolls
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Lumber Prices: Leading Indicator for Private Nonfarm Payrolls?
In the chart below we take a look at the relationship between lumber prices and private nonfarm payrolls. Clearly they tend to move together on a monthly basis. One of the transmission mechanisms of monetary policy is the impact … Continue reading
Posted in Charts, Commodities, Employment, Housing
Tagged Lumber Prices, Nonfarm Payrolls
4 Comments
Lumber Rising…….Jobs to Follow?
We wrote yesterday of the almost 50 percent increase in lumber prices since mid-June and how it bodes well for the U.S. labor market. We’ve constructed a cleaner chart to show how nonfarm employment moves with lumber. Though prices are … Continue reading
Posted in Commodities, Economics
Tagged employment, leading indicator, Lumber Prices
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Dead Wood No Longer
Take a look at lumber prices. In the days of traditional monetary policy in a normal economy, the Fed would lower interest rates and the construction sector would lead the economy out of recession. Lumber prices were a leading indicator. … Continue reading