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2w ago

Canada Sheds 40,800 Jobs in July as Unemployment Holds at 6.9%

July’s downturn underlines mounting pressure from U.S. tariffs and uneven sector performance on Canada’s labour market.

Workers discuss their job at Steelcon, a structural steel design and fabrication company, in St. Catharines, Ontario, Canada, January 31, 2025. REUTERS/Carlos Osorio/File photo
Prince George's three-month average unemployment rate was 5.2 per cent in July, an increase from 4.4 per cent a year ago.
Alberta's unemployment rate jumped to 7.8 per cent in July compared to 6.8 in June. The full percentage point increase was the largest in the country.

Overview

  • July’s net loss of 40,800 jobs wiped out nearly half of June’s 83,000 gain.
  • Full-time roles declined by 51,000, driven by private-sector cuts in information, culture and recreation (–29,000) and construction (–22,000), partly offset by a 26,000-job gain in transportation and warehousing.
  • The employment rate dropped to 60.7%, marking its lowest point since the pandemic.
  • Young Canadians aged 15 to 24 faced steep losses, with unemployment rising to 14.6% and their employment rate tumbling to 53.6%, the weakest since 1998 excluding pandemic years.
  • Even as average wages rose 3.5% year-on-year to C$37.66, manufacturing employment stayed about 9,400 jobs below July 2024 amid U.S. tariffs on steel, aluminium and autos.