Economy lost 41,000 jobs in July but unemployment rate held steady at 6.9%
The economy lost 51,000 full-time positions in July, mostly in the private sector
- By: Craig Lord, The Canadian Press
- August 8, 2025 August 8, 2025
- 09:18
The economy lost 51,000 full-time positions in July, mostly in the private sector
Household income growth rates slow alongside GDP
Big negative revisions in trade-exposed sectors points to economic fallout from tariffs
Weekly claims rise by 7,000, but still within historically low range
Economists believe the impact of tariffs will emerge gradually, over the months ahead
The Monetary Policy Committee voted 5–4 in favour of the move
Premiers split on Canada’s next move as U.S. hits goods with 35% tariffs
Trade deal is sheltering many exporters from the headline tariff rates
We may see an in-person summit this fall, with a trade deal signing
The average selling price fell 5.5%, relative to one year earlier
Sales remain 13.9% below the 10-year seasonal average
Latest services sector data points to weaker activity, inflationary pressure
Higher energy prices drove overall rise in headline inflation
An estimated 172,000 vehicles were sold last month
Merchandise trade deficit widens, while services trade deficit narrows
The move comes after OPEC+ countries raised production by 548,000 barrels per day in August
We're doing better than economists expected — will that continue?
Further rate cuts expected as labour market troubles emerge
Industry leaders urge Ottawa to stand firm in negotiations
Central bank clash escalates over interest rate policy
Pension fund takes 50% stake in construction loan for Cambridge project
Weak job gains and major revisions raise pressure on Federal Reserve to cut interest rates
The move does not affect goods compliant with CUSMA