Canada Adds 75,000 Jobs in July as Unemployment Hits Two-Year Low

The Canadian economy added 75,000 jobs in July, bringing the unemployment rate down to its lowest level in two years.

According to Statistics Canada, hiring was split between full-time and part-time work and spread across various industries, including finance and construction.

This exceeds analyst expectations of roughly 20,000 new jobs, reinforcing the Bank of Canada's view that businesses are responding well to US tariffs.

The Canadian economy contrasts with the United States, which reported a July job loss of 23,000 jobs, significantly below estimates.