Compiled by MarketsFarm
WINNIPEG, May 5 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Statistics Canada reported on Friday that approximately 41,000 jobs were added in April, well surpassing analysts’ predictions of 20,000 jobs. That brought the number of working people in Canada to 20.13 million, but the unemployment rate remained at five per cent for the fifth consecutive month. The wholesale and retail trade led the sectors with the greatest growth. Despite the strong result, all of April’s job gains were part-time positions.
Read Also
Global Markets: Chevron secures major win
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Job growth in the United States was also robust, adding 253,000 positions in April, according to the Bureau of Labor Statistics. That bested the 165,000 jobs added in March and the U.S. unemployment rate dipped to 3.4 per cent – the lowest since 1969. Ahead of Friday’s report, economists projected 180,000 jobs to be added in April. However, the increase came just as the U.S. economy is said to be slowing.
- Indonesia reported on Friday that its economy grew by 5.03 per cent during the first quarter of 2023, slightly higher than the 5.01 per cent growth in the last quarter of 2022. Analysts had projected the Indonesian economy to expand by 4.95 per cent in the first quarter. The report from Statistics Indonesia said that the country’s commodity exports led the growth. However, lower prices for those commodities and interest rate hikes by central banks around the world are poised to cool the Indonesian economy this year.
