Global Markets: Canadian unemployment rate steady

Glacier FarmMedia | MarketsFarm — The following is a glance at the news moving markets in Canada and globally.

• Canada’s unemployment rate held steady at 6.6 per cent in February, reported Statistics Canada, with 1,100 new jobs added. Meanwhile, payrolls in the United States saw an increase of 151,000 jobs during the month, but the unemployment rate edged up to 4.1 per cent, from 4.0 per cent, as more people were looking for work, according to the U.S. Labor Department’s nonfarm payrolls report.

• Russia conducted a large-scale attack on Ukraine’s energy infrastructure overnight, according to reports, as global efforts ramp up for finding a solution to the three-year conflict. European leaders were meeting this week, while Ukrainian President Volodymyr Zelenskyy said talks with U.S. officials will take place next week.

• Canada will keep its counter-tariffs on U.S. imports in place despite the latest temporary pause on some U.S. tariffs. On Thursday President Donald Trump backed off on tariffs for Canadian goods that are “compliant” with the Canada-U.S.-Mexico Agreement (CUSMA), but that only covers some of Canada’s business with its largest trading partner. An estimated 62 per cent of U.S. imports from Canada would still face tariffs according to the Associated Press.

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