Canada unexpectedly lost jobs in July and the country’s unemployment rate increased because of a drop in full-time jobs at schools and in the finance industry. The currency and government bond yields declined.
Employment fell by 9,300 jobs in July, the first decline this year, following a 93,200 increase in June, Statistics Canada said today in Ottawa. The jobless rate rose to 8 percent, from 7.9 percent. Economists surveyed by Bloomberg predicted 12,500 new jobs and a jobless rate of 7.9 percent, according to the median of 22 estimates.