Canada's Job Market Adds Surprise 75,000 Jobs in July

Canada's job market showed strong growth in July, adding 75,000 jobs and lowering the unemployment rate to 6.4 per cent, its lowest level in two years.

The unexpected surge was led by Ontario, which added 52,000 jobs, while the country as a whole is up 181,000 jobs since April and 196,000 from a year ago.

Economists say this recovery still has a long road ahead before the Bank of Canada considers tightening policy.

CIBC senior economist Andrew Grantham noted that 'it's stronger growth than we were maybe anticipating a few months ago,' but added that 'the labour market is not yet strong.'

Wage growth slowed in July, with average hourly wages up 2.8 per cent year-over-year, down from 3.3 per cent growth in June.