Glacier FarmMedia COVID-19 & the Farm

Global markets: US jobless claims down

By Commodity News Service Canada

WINNIPEG, May 26 – The following is a glance at the news moving markets globally.

US JOBLESS CLAIMS DOWN ON THE WEEK
US jobless claims in the week ended May 10 were down 10,000 to sit at a seasonally adjusted 268,000, data from the country’s labour department says.

The reduction in claims was more than analysts had anticipated and brought the US back to cycle-lows.

US RAISES POTENTIAL TARIFFS FOR SOUTH KOREAN STEEL
The US Department of Commerce has raised the level of potential tariffs on South Korean steel exporters, due to the country dumping a higher level of corrosion-resistant steel, according to reports on Thursday.

The level of potential tariffs is now as high as 48 per cent, compared with a previous 3.5 per cent.

CANADIAN AVERAGE WEEKLY EARNINGS UP ON THE MONTH
Average weekly earnings of non-farm payroll employees were C$960 in March, up 0.5 per cent from the previous month. Compared with 12 months earlier, average weekly earnings increased 0.7 per cent, Statistics Canada said in a report on Thursday.

According to StatsCan, increase in weekly earnings reflects a number of factors, including wage growth, changes in the composition of employment by industry, occupation and level of job experience, as well as average hours worked per week.

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