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Global markets: US job growth up

By Commodity News Service Canada

WINNIPEG, May 5 – The following is a glance at the news moving markets globally.

– America’s job growth was higher in April, according to the US Labor Department on Friday. At the same time, unemployment fell to a 10-year-low, at 4.4 per cent.

Market watchers say the advances in hiring were largely driven by increased hiring in the leisure and hospitality sector.

– Canadian employment was little changed in April, while the unemployment rate declined 0.2 percentage points to 6.5 per cent, the lowest rate since October 2008. The decrease was mostly the result of fewer youth searching for work, Statistics Canada said in a report on Friday.

Compared with 12 months earlier, there were 276,000 (+1.5 per cent) more people employed and the unemployment rate was 0.6 percentage points lower. Over the same period, the total number of hours worked rose 1.1 per cent, StatsCan said.

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