U.S. stock futures declined on Friday morning after a report showed that the unemployment rate jumped.

The U.S. jobless rate jumped 0.5 percentage point to 5.5%, its highest level since October 2004 and sharpest one-month increase in 22 years.

Nonfarm payrolls declined 49,000 in May, the U.S. Labour Department said. The decline was broad-based, with declines in sectors including manufacturing, construction, retail and business services.

Here at home, the unemployment rate remained at 6.1% in May, but Statistics Canada said full-time employment declined by 32,200, offset by more part-time jobs.

The Canadian dollar was trading at US98.14¢, off 0.11 cent from Thursday.

Light, sweet crude oil for July delivery was up $2.08 at US$129.87 per barrel after trading as high as $130.58 on the New York Mercantile Exchange.

In earnings news, Patheon Inc. (reported a February-April net loss of US$8.5 million, improving on a year-earlier loss of $22 million. The drug manufacturer said revenue in its second quarter was up 16% from a year earlier to US$186 million.

Overseas, the Tokyo Nikkei index gained 1% and Hong Kong’s Hang Seng closed with a gain of 0.6%, but gains were more muted in Europe.

London’s FTSE 100 index was up 0.25%, gaining 15.5 points to 6,010.8.

The Toronto Stock Exchange’s main index powered ahead almost 2% on Thursday, led by surging resource issues as the price of oil strengthened.

The S&P/TSX composite index rocketed up 292.45 points, or 1.99%, to finish at 14,982.91, with all but one of its 10 main sectors advancing.

The junior S&P/TSX Venture composite index added 14.06 points, or 0.53%, to 2,656.63.

In New York, U.S. stocks rose the most in more than a month after U.S. retailers posted stronger-than-expected May sales and data showed a surprising fall in weekly jobless claims,

The Dow Jones industrial average rose 213.97 points, or 1.73%, to close at 12,604.45, while the S&P 500 gained 26.85 points, or 1.95%, to 1,404.05. The tech-heavy Nasdaq composite index jumped 46.80 points, or 1.87%, to finish the day at 2,549.94.