Canada's Economy Adds 75,000 Jobs as Tariffs Bite

Canada's economy added 75,000 jobs in July, bringing the unemployment rate down to 6.4 percent, its lowest level in two years.

The hiring was spread across industries, from finance to construction, and split between full-time and part-time work.

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

Despite this positive sign, RBC cautioned that a broad collapse in bilateral free trade would upend the Canadian economy.