Global Markets: U.S. economy adds 4.8 million jobs in June

By MarketsFarm

WINNIPEG, July 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

As cases of COVID-19 continue to surge, the United States economy added 4.8 million jobs to the economy in June, according to the Department of Labor. The increase was fuelled largely by bars and restaurants re-opening, although the rise in cases indicated the economic rebound may be short lived.

According to Statistics Canada, Canada’s trade deficit decreased in May due to lowered imports and increased exports and oil prices. Total exports rose by 6.7 per cent in May to total C$34.6 billion, while imports fell by 3.9 per cent for a total of C$35.3 billion. The trade deficit totalled C$677 million, down from C$4.3 billion the month prior.

At least 113 people are dead following a landslide at a jade mine in northern Myanmar. The region received heavy rainfalls which destabilized the ground, causing miners to be “smothered by a wave of mud,” according to eyewitnesses.

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