Canadian Economy Adds 75,000 New Jobs in July

The Canadian economy experienced significant growth in July, adding 75,000 new jobs and driving down the unemployment rate to 6.4 per cent.

This marks the lowest level of unemployment in two years and the third consecutive monthly decrease, according to data from Statistics Canada published on Friday.

The job gains were widespread across various industries, with wholesale and retail trade recording the largest employment increase in July, followed by finance, insurance, real estate, rental, and leasing.

Total employment has increased by 0.9 per cent or 181,000 jobs since April, primarily driven by a rise in full-time work, which rose by 1.1 per cent or 193,000 positions.