Canada’s employment increases in May

Canada’s economy added 88,000 jobs in May, with the employment rate up 0.2 percentage points to 60.7 percent, data released Friday by Statistics Canada showed.

Employment increased among core-aged women, core-aged men and youth aged 15 to 24, said the national statistical agency.

Employment increased in several industries, most notably in construction, information, culture and recreation, transportation and warehousing, as well as accommodation and food services, said the agency.

On the other hand, employment decreased in wholesale and retail trade, added the agency.

According to the agency, the unemployment rate fell 0.3 percentage points to 6.6 percent. The unemployment rate for youth declined 0.9 percentage points to 13.4 percent. The rate also fell among core-aged women and core-aged men.

Average hourly wages among employees increased 3 percent to 37.24 Canadian dollars (26.73 U.S. dollars) on a year-over-year basis in May, said Statistics Canada.

U.S. President Donald Trump said Friday he intends to quickly end the war with Iran at a campaign event in Wisconsin, hoping to help ease rising prices and reduce pressure on American consumers ahead of the midterm elections.

As the midterm elections approach, U.S. media have widely reported that the war with Iran has contributed to higher gasoline prices and increased living costs, creating political challenges for Republicans. Some within the Republican Party have expected Trump to resolve the Iran issue quickly and refocus on economic and domestic concerns in the United States.

Also on Friday, Trump said that Iran has not yet reached an agreement with the U.S. to end the conflict, but he expressed confidence that a deal would ultimately be struck.

On Wednesday, Trump told the media at the White House that negotiations with Iran were progressing smoothly and that an agreement could be reached as early as this weekend.

Mohsen Rezaei, military adviser to Iran’s Supreme Leader Mojtaba Khamenei, said in an exclusive interview with CNN on Friday in Tehran that if Trump wants to reach an agreement with Iran, the release of frozen Iranian assets “is a test that America must pass and the path will be opened.”

Iran is reportedly demanding that the U.S. immediately release 12 billion U.S. dollars in frozen assets once a temporary deal is signed, with another 12 billion U.S. dollars to be unfrozen in a later phase.

Rezaei also warned that Iran would “drag the war” beyond the Persian Gulf if the U.S. resumes the conflict.

Trump told reporters on Thursday that he would be open to meeting with Khamenei if the two sides reach a peace deal.

Rezaei rejected prospects of a potential meeting between Trump and Khamenei. “This will not happen. Right now, we are in the first stage of negotiations, and Mr. Trump has brought the negotiations to a standstill,” he said.

Following a ceasefire that took effect between Iran, the U.S. and Israel on April 8 after 40 days of fighting, Iran and the U.S. initiated a diplomatic process with Pakistan’s mediation to end the war. The two sides have reportedly exchanged several proposed plans over the past few weeks, outlining conditions for peace through Pakistan’s mediation, and are working to finalize a memorandum of understanding to end the war.