Canada added 75,000 jobs in July, according to Statistics Canada, as the national unemployment rate ticked down to 6.4 per cent — the lowest since July 2024.
The labour force survey for the month was released by the agency Friday morning, and marks the third straight month where the unemployment rate fell. The rate for July was also half a per cent lower than the same month a year earlier.
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In June, the unemployment rate was 6.5 per cent, and 18,000 jobs were added.
Leading up to the report’s release, economists have said the labour market appears to be stabilizing after the first quarter of the year brought a mild contraction and employers shed jobs.
The economy likely fared a lot better in the second quarter, with StatCan estimating real GDP grew 3.4 per cent on an annualized basis over the three-month period.
However, U.S. President Donald Trump’s latest threats of 50 per cent tariffs on a wide range of Canadian imports are casting fresh uncertainty over employers.
– with a file from The Canadian Press
– more to come
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