Jobs
Job Growth Stalls in Canada; Unemployment Rate Holds at 6.4%
- Country loses 2.8K jobs in July; economists saw 25K gain
- Labor force shrinks by 11.3K, first loss since Sept. 2022
Travelers wait in line to board a flight at Vancouver International Airport. The province of British Columbia led job losses in July as the economy shed employment for the second straight month.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Canada unexpectedly shed jobs for a second straight month and the unemployment rate held at the highest level in more than two years, keeping the Bank of Canada on track to further cut interest rates.
The country lost 2,800 positions in July, while the unemployment rate was unchanged at 6.4%, Statistics Canada reported Friday in Ottawa. Economists in a Bloomberg survey had expected the economy to add 25,000 positions and the jobless rate to rise to 6.5%.