Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Voters in the United Kingdom ended 14 years of Conservative governance with a resounding victory by the centre-left Labour Party in the country’s federal election on Thursday. Labour, led by Keir Starmer, took 410 seats in the 650-seat House of Commons despite only receiving 34 per cent of the vote, according to early results. The Conservatives only won 118 seats, its largest loss in the party’s history and led to former Prime Minister Rishi Sunak announcing his resignation as party leader on election night. The centrist Liberal Democrats, led by Ed Davey won a record 70 seats while Nigel Farage’s far-right Reform UK party took four seats.
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Global Markets: Inflation nudges up in Canada, the U.S.
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Statistics Canada (StatCan) reported on Friday that Canada lost 1,400 jobs in June and the country’s unemployment rate rose to 6.4 per cent, the highest it’s been since January 2022. Much of the losses came from full-time workers, while the rate increased partly because of a larger workforce. The number of jobs in agriculture rose by 12,300 in June, the second highest in any sector behind accommodation and food services. In May, the unemployment rate was 6.2 per cent.
– The United States Labour Department reported on Friday its economy added 206,000 jobs in June, ahead of analysts’ expectations but still at a much slower pace than last year. Meanwhile, the unemployment rate rose to 4.1 per cent as more people entered the workforce.
