Canada’s labour market posted another month of solid growth in July, with the economy generating 75,000 new jobs while the national unemployment rate declined to 6.4 per cent, its lowest level in two years, according to the latest Labour Force Survey released by Statistics Canada.
The July figures mark the third consecutive monthly decline in the unemployment rate, which has now dropped by half a percentage point since April, reflecting continued resilience in Canada’s job market despite ongoing economic uncertainties.
Employment gains were broadly shared between full-time and part-time positions, highlighting steady hiring across the labour market. The wholesale and retail trade sector led all industries by creating 21,000 jobs during the month. However, despite the recent improvement, employment in the sector remains approximately 50,000 positions below the level recorded a year earlier.
Among the provinces, Ontario recorded the strongest employment growth, with much of the increase driven by hiring in the professional, scientific and technical services sector, underscoring continued demand for skilled workers in knowledge-based industries.
The results significantly exceeded market expectations. Economists surveyed by Reuters had anticipated a modest increase of about 15,000 jobs in July, making the actual employment gains five times stronger than forecast.
Statistics Canada also reported that the country has added 181,000 jobs since April and 196,000 over the past 12 months, indicating sustained momentum in employment growth and reinforcing confidence in the overall strength of Canada’s labour market.