Published • loading... • Updated
Canada adds 75,000 jobs in July, unemployment rate hits two-year low
Statistics Canada said gains in full-time and part-time work were led by private employers, while public sector payrolls fell by 14,500.
- On Friday, Statistics Canada reported Canada added 75,100 jobs in July, driving the unemployment rate down to 6.4%, a two-year low that significantly outperformed analyst expectations of 16,500 positions.
- The Bank of Canada said on July 15 the economy is dealing with challenges posed by President Donald Trump's tariffs and uncertainty caused by the Middle East conflict, yet resilience persists.
- Full-Time employment increased by 38,600 while part-time employment rose by 36,600; Public sector jobs fell by 14,500 in July amid an official bid to cut government spending in Canada.
- Average hourly wages grew 3.0% in July, down from 3.7% in June, marking the lowest increase since February 2022 and providing The Bank with more flexibility on monetary policy.
- The surprise job growth highlights unexpected economic resilience, suggesting current market models may underestimate Canada's ability to navigate ongoing trade tensions as Analysts continue monitoring long-term projections.
Insights by Ground AI
32 Articles
32 Articles
'Not yet strong': Canada adds surprise 75,000 jobs in July but recovery still ongoing
OTTAWA — Canada's job market took a leap toward recovery in July, adding 75,000 jobs, but economists say there's still a long road ahead before the Bank of Canada considers tightening policy.
·Guelph, Canada
Read Full Article
Coverage Details
Total News Sources32
Leaning Left16Leaning Right3Center9Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 32%
11%
Factuality
To view factuality data please Upgrade to Premium
