Canadian Job Market Runs Hot With Unemployment at 9-Year Low
- Jobless rate at 6.3% is lowest since 2008, participation falls
- Trade deficit widens to C$3.6 billion, blowing by forecasts
Sparks fly as a worker operates a grinder tool at the Alps Welding Ltd. facility in Toronto, Ontario, Canada.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Canada’s labor market continued its stellar performance in July, with the jobless rate falling to the lowest since before the financial crisis.
The unemployment rate fell to 6.3 percent, the lowest since October 2008, as the labor market added another 10,900 jobs during the month, Statistics Canada reported from Ottawa. The total increase over the past year of 387,600 is the biggest 12-month gain since 2007.