Punjabi
Canada Loses 42,000 Jobs in August as Labour Market Weakens
Canada’s economy lost 42,000 jobs in August, dealing a setback to the recent momentum in the country’s labour market. However, the unemployment rate remained unchanged at 6.4 per cent.
The latest figures from Statistics Canada came in below economists’ expectations, with analysts forecasting a net gain of around 15,000 jobs.
The public sector recorded the largest decline in employment, shedding 20,000 jobs and marking its third consecutive month of losses.
Meanwhile, Canada’s manufacturing sector showed unexpected resilience despite the impact of U.S. tariffs, adding 22,000 jobs during