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Canada Sheds Jobs for Second Month as Labor Force Shrinks

  • Nation’s jobless rate remains at record low 4.9% on shortages
  • Labor force participation declines as women exit workforce
Updated on

Canadian employment unexpectedly fell for a second straight month in July as workers dropped out of the labor force, adding to evidence the economy is losing momentum. 

The country shed 30,600 jobs last month, Statistics Canada reported Friday in Ottawa, a surprise negative reading compared to the 15,000 gain anticipated by economists. Still, the unemployment rate held at a record low 4.9% as the labor force shrank by a similar amount.