Global Markets: Canadian unemployment rate hits record low

By MarketsFarm

WINNIPEG, April 8 – The following is a glance at the news moving markets in Canada and globally.

– Canada’s unemployment rate fell to 5.3 per cent in March, hitting its lowest level on records going back to 1976, according to a report from Statistics Canada. The country’s economy added 72,500 new jobs during the month.

– Tackling rising housing costs was a feature of the latest budget released by the federal Liberals on Thursday. Included in the budget were a proposed two-year ban on purchases of residential real estate by non-citizens or permanent residents and a crackdown on other real estate speculators. A tax-free first-home savings account was also being proposed, which would allow Canadians to contribute up to C$8,000 per year to save for a home.

– France will hold its first round of presidential elections over the weekend, with far-right candidate Marine Le Pen gaining ground on incumbent Emmanuel Macron over the past month. There are 12 candidates running for the presidency. If no candidate wins more than 50 per cent of the vote in the first round, as is expected, it will go to a runoff vote between the top two finishers on April 24.

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