WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada reported on Friday that the Canadian economy added 31,200 jobs in October, which lowered the unemployment rate by 0.2 percentage points to a new pandemic-low of 6.7 per cent. However, many economists had predicted there would be 41,600 new jobs added and the labour force lost 25,000 jobs in October. The retail sector posted the biggest gains with a net increase of 72,000 jobs. Meanwhile, goods producing industries and public administration saw declines in their workforces.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– Pfizer Inc. claimed on Friday its new antiviral pill for COVID-19 cut rates of hospitalization and death by 90 per cent in high-risk adults. The company also said it will ask international regulators, including the United States Food and Drug Administration (FDA) to authorize the pill. If successful, the company will rename the drug Paxlovid. Merck’s own antiviral pill is currently under review by the FDA and has already been approved in the United Kingdom.
– The Canadian Dairy Commission recommended on Thursday a record price increase of 8.4 per cent in wholesale milk prices. The price hike is designed to offset rising production costs due to the COVID-19 pandemic, but could also result in the price of milk to go up by 10 per cent and cheese by 15 per cent at the grocery store starting in February. The largest yearly increase by the commission was 4.54 per cent in 2017.
