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Canada unexpectedly sheds 2,800 jobs in July; jobless rate stays at 6.4%

  • Canada's economy unexpectedly lost 2,800 jobs in July, while the unemployment rate held steady at 6.4%, according to data released on Friday.
  • Analysts had predicted a net gain of 22,500 jobs and expected the unemployment rate to rise to 6.5%.
  • July marked the second month of job losses, indicating easing in Canada's labor market, potentially influencing the central bank to lower interest rates in September.
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