Xinhua world economic news summary at 0900 GMT, May 9

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OTTAWA -- More than 3 million jobs have been lost in Canada since the start of the COVID-19 pandemic, according to the report released by Statistics Canada on Friday.

Employment losses nearly doubled over a month, from March when over 1 million jobs across the country were shed to last month, when nearly 2 million jobs were lost.

Canada's unemployment rate also increased by 5.2 percentage points to 13 percent, the second-highest rate on record since December 1982. (Canada-COVID-19-Jobless Rate)

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NEW YORK -- Oil prices climbed on Friday after data showed another dip in U.S. oil rig count.

The West Texas Intermediate for June delivery rose 1.19 U.S. dollars to settle at 24.74 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery advanced 1.51 dollars to close at 30.97 dollars a barrel on the London ICE Futures Exchange. (US-Oil Price-Rise)

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OTTAWA -- Canadian Prime Minister Justin Trudeau announced on Friday extension of the Canada Emergency Wage Subsidy program to help businesses and services retain their employees as the April jobless rate soared to record 13 percent.

In April, the Canadian economy lost nearly two million jobs, on top of the one million jobs lost in March, Statistics Canada reported Friday morning. (Canada-Trudeau-Subsidy Program)

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LISBON -- Portuguese Prime Minister Antonio Costa said on Friday that it is necessary to strengthen the national production capacity so the economy can be reactivated and jobs guaranteed.

He made the remarks after visiting the Center of Engineering and Product Development in Matosinhos, a city and a municipality in northern Portugal. (Portugal-Economy-Coronavirus) Enditem

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