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Global Markets: US labour force sees tepid growth

By Commodity News Service Canada

WINNIPEG, May 6 – The following is a glance at the news moving markets globally.

US LABOUR FORCE AT SEVEN-MONTH-LOW
The US economy saw the smallest growth since September 2015, adding 160,000 jobs in April, according to reports on Friday.

That figure is below the first-quarter average job growth, market watchers say, while February and March’s figures were revised downward by 19,000.

CANADIAN LABOUR FORCE UNCHANGED
Following an increase in March, Canada’s employment was virtually unchanged in April, losing only 2,100 jobs, and the unemployment rate remained at 7.1 per cent, Statistics Canada said in a report on Friday.

According to StatsCan, compared with 12 months earlier, employment increased by 144,000 or 0.8 per cent, with gains in both full-time and part-time work. Over the same period, the number of hours worked rose by 0.9 per cent.

CANADIAN LUMBER PRODUCTION DOWN
Lumber production by sawmills increased 1.8 per cent from January to 5.63 million cubic metres in February. Compared with February 2015, lumber production rose 12.4 per cent, Statistics Canada said in a report on Friday.

Sawmills shipped 5.57 million cubic metres of lumber in February, up five per cent from January. Shipments rose 19.6 per cent compared with February 2015.

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