Two months of job losses a sign of shifting economy, economist suggestsOTTAWA — Canada's economy appears to be backing away from the rapid jobs growth seen earlier this year, with July marking the second-straight month of job losses, even as the unemployment rate held steady. The economy lost 31,000 jobs, following on a loss of 43,000 jobs in June. Despite the downtick in jobs, Canada’s labour market remains exceptionally tight, with more than one million job vacancies across the country. The unemployment rate is the lowest on record with comparable data going back to 1976. Bernard said the unemployment rate remained unchanged from June despite the jobs loss because of a dip in the labour force participation rate.

Source: CBC News August 05, 2022 09:39 UTC