Canadian Economy Adds 75,000 Jobs as Tariffs Take Hold

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

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

The jobs numbers far exceeded analyst expectations, which forecast roughly 20,000 new jobs.

TD Bank said in a note responding to the Canadian jobs figures that 'the labor market is showing clear signs of recovery,' predicting that unemployment would continue to nudge downward through the rest of the year.