Canada Unexpectedly Sheds 40,800 Jobs, Most Since Pandemic

The Canadian economy lost the most jobs since January 2022, and excluding the pandemic, it’s the largest drop in seven years.

Employment fell by 40,800 positions in July, driven by decreases in full-time work, while the jobless rate held firm at 6.9%, Statistics Canada data showed Friday. The number of job losses surpassed even the most pessimistic projection in a Bloomberg survey of economists.