More than 40,000 jobs disappeared from Canada's economy in July, driving the national employment rate down to its lowest point since the COVID pandemic.
Canada's economy shed over 40,000 jobs in July, partly offsetting earlier growth | CBC News | Thomson Reuters:
August 8, 2025 - "The Canadian economy lost more than 40,000 jobs in July, sinking the share of people employed to an eight-month low, Statistics Canada reported on Friday, as the labour market gave back substantial gains seen in June. The unemployment rate, however, remained steady but at a multi-year-high level of 6.9 per cent, the agency said.
"The economy shed 40,800 jobs in July against a net addition of 83,000 jobs in June, taking the employment rate — or the percentage of people employed out of the total working-age population — to 60.7 per cent. The employment rate was the lowest since the pandemic and the loss of jobs was concentrated among permanent employees....
"The declines were largely driven by job losses among young people aged 15 to 24, a cohort that has struggled to find work.... Their employment rate dropped to 53.6 per cent, the lowest since November 1998, excluding the pandemic.
"The youth unemployment rate, meanwhile, hit 14.6 per cent — the highest rate for this group since September 2010, again barring the pandemic years. High school students returning to class in the fall are having an especially difficult time finding work....
"The sectors hit hardest last month included the information, culture and recreation industry, which lost 29,000 jobs, while construction lost 22,000 jobs, and business, building and support services shed 19,000 jobs. Transportation and warehousing made gains with a 26,000-job bump."
Read more: https://www.cbc.ca/news/business/canada-labour-force-survey-july-1.7604068
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