US EditionCanada Sheds Tens of Thousands of Jobs as Tariffs Dent Hiring Plans
CANADA, AUG 8 – Youth unemployment rose to 14.6%, the highest since 2010, as US tariffs on steel, aluminium, and autos led to significant manufacturing job losses, officials said.
- Canada lost 40,800 jobs in July, marking the largest monthly decline since January 2022, with data released on August 8 in Ottawa.
- This drop followed a net gain of 83,000 jobs in June and was driven by job losses in sectors like information, culture and recreation, construction, and business support services.
- Employment fell notably among workers aged 15 to 24, pushing youth unemployment to 14.6 percent, the highest outside the pandemic since September 2010.
- The average hourly wage for permanent employees rose 3.5 percent to C$37.66 in July despite total hours worked declining 0.2 percent, while economist Alexandra Brown said a strong upcoming CPI print could pause Bank of Canada rate cuts.
- These developments suggest a softening labor market amid ongoing trade disputes, with Oxford Economics forecasting up to 140,000 job losses and rising unemployment later this year.
15 Articles
15 Articles
Canada slashes tens of thousands of jobs in sharp economic shift after Trump imposed tariffs
Canada shed tens of thousands of jobs in July, dragging the country’s employment rate to its lowest point in eight months as U.S. President Donald Trump’s tariffs rippled through key industries.The labor market’s reversal came just weeks after a surge in hiring. Statistics Canada data, cited by Reuters, showed the economy created 83,000 jobs in June but lost 40,800 in July, erasing nearly half of that gain.The share of working-age Canadians with…
The Canadian economy lost thousands of jobs in July, bringing the proportion of people employed to the total population to its lowest level in eight months, showing data published on Friday. The economy lost 40,000 800 jobs in the month, compared to a net addition of 83,000 jobs in June, bringing the employment rate, or the percentage of people employed over the total population of working age, to 60.7%, according to Statistics Canada. The unemp…
Channel News Asia
BizTocCanada sheds tens of thousands of jobs as tariffs dent hiring plans
OTTAWA: The Canadian economy lost tens of thousands of jobs in July, sending the share of people employed to an eight-month low, data showed on Friday (Aug 8), as the labour market gave
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