Canadian Unemployment Rate Falls to 6.4%

Canada's unemployment rate fell to 6.4% in July, down 0.1 percentage points from the previous month.

The economy added 75,000 net new jobs in July, with employment rising among core-aged people (25-54 years old) by 51,000 positions.

The youth unemployment rate stood at 12.6% in July, while the unemployment rate for core-aged women fell 0.3 percentage points to 5.2%, and it held steady for core-aged men at 5.8%.

Average hourly wages among Canadian employees rose 2.8% on a year-over-year basis in July to $37.17, following growth of 3.3% in June.