WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– The House committee tasked with investigating the attacks on the United States Capitol on Jan. 6, 2021 used a prime-time, nationally-televised hearing on Thursday to reveal its preliminary findings. The hearing included never-before seen video of police officers brutally beaten and far-right groups leading crowds into the Capitol. Vice-chair of the committee Rep. Liz Cheney (R-WY) outlined the significant role of then-President Donald Trump and how members of his inner circle told him to stop promoting the lie that the presidential election was rigged, while also urging him to tell his followers to stop the violence. Videos of testimony by then-Attorney General William Barr and Trump advisers Ivanka Trump and husband Jared Kushner were also shown, followed by live testimony from Capitol Police officer Caroline Edwards who was injured during the unrest.
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– Despite high-rising inflation, Canada added 39,800 jobs in May, dropping the jobless rate to a record-low 5.1 per cent, according to a Statistics Canada report released on Friday. More than 135,000 people found full-time work while there was a decline of 96,000 part-time positions. There were approximately 500,000 more workers in Canada in May than before the COVID-19 pandemic.
– The inflation rate in the U.S. rose again to a record-high annualized rate of 8.6 per cent, according to the Department of Labor. Prices rose on average by one per cent from April to May with rising gasoline prices mostly to blame. However, many economists believe prices for many goods will soon decline as large retailers end up with more unsold, excess inventory.
