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Global Markets: Canadian jobless rate holds steady

By Commodity News Service Canada

WINNIPEG, May 11 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Canada’s unemployment rate held at 5.8 per cent in April with a total loss of 1,100 jobs, according to a report from Statistics Canada. Average market expectations had been for an increase of about 20,000 jobs on the month. The job losses were all in part-time employment, which was down by 30,000 jobs. Full-time employment, meanwhile, was up by 28,800.

– European leaders are working to salvage a nuclear deal with Iran, after the United States announced its withdrawal from the agreement earlier this week. Germany’s Angela Merkel also spoke with Russia’s Vladimir Putin about the deal.

– WestJet pilots voted 91 per cent in favour of taking strike action, and could be in position to strike by May 19. Negotiations are still ongoing.

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