According to new data from Statistics Canada’s labour force survey, Canada added 75,000 jobs in July, up 0.4 percent, with gains split between full- and part-time positions. Of those, 21,000 were added in wholesale and retail trade.
Unemployment fell to 6.4 percent, which is the lowest it has been in two years. Employment rose for people aged 25 to 54, especially women in that cohort. Unemployment for men aged 25 to 54 held steady at 5.8 percent, while falling to 5.2 percent for women.
Ontario led the way with 52,000 jobs, representative of a 0.6 percent increase, which were mostly observed in the professional, scientific, and technical services sector. British Columbia followed with 18,000 jobs. Overall, since April the country has added 181,000 jobs.
After a mild contraction in the first quarter, the labour market seems to be stabilizing. In the second quarter, the real GDP growth was estimated to grow 3.4 percent on an annualized basis over the three-month period. That could change in the face of the newly imposed 50 percent tariffs, as trade negotiations came to a halt between the U.S. and Canada.
