Canada loses 2,800 jobs in July, unemployment steady at 6.4%

By Ovunc Kutlu

ISTANBUL (AA) - Canada's employment decreased by 2,800 in July, according to official figures released Friday by Statistics Canada.

The market expectation for the figure was an addition of 26,900 after the North American country lost 1,400 jobs in June.

On an annual basis, however, employment was up by 346,000, or 1.7%, in July, compared to the same month of 2023.

The unemployment rate remained unchanged at 6.4% in July, compared to the previous month, and that figure came in slightly less than market expectations of 6.5%.

The employment rate, on the other hand, fell 0.2 percentage point to 60.9% in July, from 61.1% in June.