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Unemployment in Construction and Forestry Due to COVID-19

By March 27, 2020Lumber Market

These are unprecedented times – like nothing we’ve experienced before. If history has taught us something it is to be prepared. Could anything have prepared us for:
3,283,000 unemployment benefit claims in one week (the previous weekly high was in 1982 at 695,000).
Notable industries affecting us all hit hard by layoffs from COVID-19 are construction, transportation, agriculture, forestry, manufacturing, and wholesale trade. You can download and read the full report here.
Unemployment claims spike
Considering many business continuity plans in the lumber space didn’t foresee the shift to remote trading and operations, many mills and distributors are now looking for ways to future-proof from this new reality. In a post COVID-19 world, the new normal will have to include technology that makes buying and selling lumber from your kitchen on a mobile device possible.