Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada reported today that the country lost 2,800 jobs in July while the unemployment rate was unchanged at 6.4 per cent. Wholesale and real estate lost a total of 44,000 jobs, while public administration, transportation and warehousing, and utilities saw gains. Average hourly wages were up 5.2 per cent compared to one year ago at $34.97. The unemployment rate for young people aged 15 to 24 returning to school this fall was 17.4 per cent, the highest rate since 2009 barring the summer of 2020 at the height of the COVID pandemic.
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Global Markets: Trump threatens Canada with tariff hike
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– United States vice president Kamala Harris and former president Donald Trump have agreed to a televised debate on Sept. 10, ABC announced on Thursday. It would be the first debate between the two candidates since Harris took over the Democratic presidential nomination from President Joe Biden. Trump said he had previously suggested three different presidential debates on three different networks. However, he also said days earlier he would not appear on ABC due to a lawsuit he filed.
– The Canadian Steel Producers Association (CSPA) and the Aluminum Association of Canada urged Canadian Prime Minister Justin Trudeau on Thursday to impose tariffs on Chinese steel and aluminum imports this month, just like in the U.S. and Mexico. The two industries asked for at least a 25 per cent tariff on melted or poured Chinese steel products and most aluminum products entering Canada. According to CSPA, approximately 625,000 tonnes of melted and poured Chinese steel products enter Canada each year.
