Canadian Job Market Faces Continued Struggles

Unemployment rate remains at 6.4% as the economy loses 2,800 jobs in July, with youth and recent immigrants hit hardest.

Canada's job market shed jobs for the second consecutive month, losing 2,800 positions in July.
The national unemployment rate has held steady at 6.4%, the highest in over two years.
Youth unemployment surged to 14.2%, the highest since September 2012 outside the pandemic.
Recent immigrants face a 12.6% unemployment rate, with immigrant youth unemployment at 22.8%.
Economists predict further interest rate cuts by the Bank of Canada to stimulate economic growth.