Canada's Labour Market Cools Down in August with Job Losses and Slowing Wage Growth

Canada's labour market cooled down in August, with employment falling by 42,000 positions. This follows a strong four-month run where the economy added a cumulative 181,000 jobs between April and July.

The national unemployment rate held at 6.4% in August, unchanged from July, though the headline figure masks diverging trends across demographic groups.

Cory Stahle, senior economist at Indeed, noted that shedding jobs after three months of consecutive gains 'doesn't feel good,' but this reads more like a giveback than a turn.