Glacier FarmMedia COVID-19 & the Farm

Global markets: US jobless claims up

By Commodity News Service Canada

WINNIPEG, July 28 – The following is a glance at the news moving markets globally.

US JOBLESS CLAIMS INCREASE
US jobless claims for the week ending July 23 increased by 14,000 to a seasonally adjusted 266,000, according to data out of the country on Thursday.

Claims for the previous week were downwardly revised by 1,000.

US FEDERAL RESERVE LEAVES INTEREST RATES UNCHANGED
The US Federal Reserve left interest rates unchanged following its July policy meeting.

Fed officials indicated they may tighten monetary policy later this year.

CANADIAN WEEKLY EARNINGS MOSTLY UNCHANGED
Average weekly earnings of non-farm payroll employees were C$956 in May, little changed at 0.2 per cent from the previous month. Compared with 12 months earlier, average weekly earnings increased 0.9 per cent, Statistics Canada said in a report on Thursday.

According to StatsCan, the change 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.

Non-farm payroll employees worked an average of 32.8 hours per week in May, little changed from April and down from an average of 33 hours in May 2015.

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