By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Statistics Canada reported on Friday that unemployment in May nudged up 0.01 of a point to 6.2 per cent despite the economy adding 27,000 jobs. StatCan noted part-time positions increase 62,000 while full-time employment lost 36,000.
- The United States Department of Labour released its latest jobs report on Friday with the unemployment rate also up 0.01 of a point a four per cent in May. The slight increase came despite the U.S. economy having added 272,000 jobs last month.
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- Gold prices were down hard on Friday after China announced it was putting a stop to it’s 18-month buying spree of the precious metal. The U.S. jobs report also weighed on gold value.
- Narendra Modi was formally selected as India’s Prime Minister following the results of the country’s general election. While Modi’s Bharatiya Janata Party fell short of an outright majority in the Lok Sabha, his center-right National Democratic Alliance unanimously elected him PM for a third term.
