Canada lost 41K jobs in July, but unemployment rate holds steady at 6.9%

Statistics Canada says the economy shed some 41,000 jobs in July, partially offsetting a gain of 83,000 positions in June.

The unemployment rate meanwhile held steady at 6.9 per cent last month as the agency says the total number of job seekers was roughly unchanged.

StatCan says July’s losses were concentrated in full-time work and in the private sector.

2:02 Business Matters: Canada’s unemployment rate drops slightly in June

The agency says youth aged 15 to 24 saw the biggest employment drop in July amid a tough summer jobs market.

The information, culture and recreation sector led job losses, followed by construction, but the tariff-sensitive manufacturing industry saw its second month of modest job gains in a row.

StatCan says the layoff rate remains virtually unchanged from the same month a year ago despite the uncertainty tied to trade and U.S. tariffs.