Cdn Economy Slips Back into Neutral in August

The Canadian economy shed 42,000 jobs in August, according to Statistics Canada. This is a decline from the previous month's gain of 181,000 positions. However, the unemployment rate remained steady at 6.4%.

Economists were not overly concerned by this development, as they attributed it to one-off fluctuations rather than a broader trend. Andrew Hencic, senior economist at TD Bank, said that 'one month of soft data should not define the labour market.'

The manufacturing industry was a surprising bright spot in August, adding 22,000 jobs despite being hit hard by US tariffs. However, other sectors such as public administration and natural resources saw significant losses.