Tag Archives: Lumber Prices

Construction Employment Starting to Rebound

Posted on January 4, 2013 by macromon

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 →

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Lumber Prices: Leading Indicator for Private Nonfarm Payrolls?

Posted on June 2, 2011 by macromon

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 , | 4 Comments

Lumber Rising…….Jobs to Follow?

Posted on December 22, 2010 by macromon

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 →

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Dead Wood No Longer

Posted on December 21, 2010 by macromon

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 →

Posted in Commodities, Economics, Equities | Tagged , , | 1 Comment