Global Markets: U.S. employment rate steady

By MarketsFarm

WINNIPEG, Dec. 4 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Companies in the United States added the fewest workers to payrolls in six months, according to a report from a private research firm. In November, business payrolls increased by 67,000, which was approximately 50 per cent lower than the amount of jobs created in the previous month. The overall rate of unemployment remains at record-lows, however, the moderate hiring rate comes alongside a spate of other data that points to an economic slowdown, including lowered corporate investing.

– U.S. President Donald Trump is expected to announce a plan on Wednesday that will end food stamp benefits for over 700,000 Americans. The plan includes regulations that will make it more difficult for food stamp recipients to be exempt from certain requirements. Currently, states can receive waivers for work requirements, but the new legislation will tighten these requirements. A study from the Brookings Institution found that tougher work requirements hurt people who are working, but whose employment is sporadic.

– European budget airline Ryanair will close bases in Nuremberg and Stockholm due to delayed deliveries of Boeing 737 Max airplanes. The planes have been grounded around the world for months following two deadly crashes. The company was expecting to receive 20 planes, but that was recently lowered to 10.

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