Canada's Economy Beats the US with Low Unemployment and Job Growth

Canada's economy is showing signs of improvement compared to its US counterpart. According to recent data, Canada's unemployment rate dropped to 6.4% in July, marking a two-year low. This was largely due to an unexpected addition of 75,000 jobs.

The private sector and self-employed sector saw significant growth, with the number of public-sector jobs actually decreasing. In contrast, the US economy lost 23,000 jobs in July, while job gains reported for April and May were revised downward.

President Donald Trump had recently criticized Canada's leadership, calling it 'nasty'. However, these latest numbers may have provided a momentary comeuppance to his claims. The unemployment rate in the US fell slightly to 4.1%, but this was largely due to hundreds of thousands of Americans leaving the workforce.