Global markets: Canada’s labour force adds jobs

By Commodity News Service Canada

WINNIPEG, June 10 – The following is a glance at the news moving markets globally.

CANADA’S LABOUR FORCE GAINS, JOBLESS RATE DROPS
Canada’s employment moved up 0.1 per cent in May, adding 14,000 jobs, according to Statistics Canada data.

With fewer people searching for work, the unemployment rate declined 0.2 percentage points to 6.9 per cent, the lowest rate since July 2015, StatsCan said.

Full-time employment rose by 61,000 in May. This increase was largely offset by a decline of 47,000 in part-time work.

OIL PRICES MOVE OFF OF YEARLY HIGHS
Oil moved away from its 2016 highs on Friday, pressured by gains in the US dollar.

However, increased refinery demand and supply disruptions underpinned the market, analysts say.

INDIA’S INDUSTRIAL OUTPUT DOWN IN APRIL
India’s industrial output dropped in April, the first in three months, according to reports on Friday.

Weaker production and a contraction in consumer wares led to the declines, analysts say.

Production at factories, mines and utilities fell 0.8 per cent, compared with year-ago levels.

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