Global Markets: North American jobs data disappoints

WINNIPEG, May 7 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– United States jobs data for April came in well below expectations, with only 266,000 jobs added to the country’s economy, according to a report from the U.S. Labor Department. Pre-report expectations had been for jobs growth closer to one million.

– Canadian jobs data was also disappointing, with the country losing 207,000 jobs in April, according to Statistics Canada, as more pandemic lockdowns went into effect around the country. The unemployment rate was up 0.6 of a point, to 8.1 per cent.

– India remains the world’s COVID-19 hotspot, setting a new record for daily cases on Friday with another 414,188 cases and 3,915 deaths. India currently accounts for nearly half of all worldwide COVID cases, with 21.4 million cases-to-date. With the Indian healthcare system at the brink of collapse, Prime Minister Narendra Modi is facing increasing pressure to impose stricter lockdown measures.


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