Canada Adds 75,000 Jobs in July as Unemployment Falls to Two-Year Low of 6.4%

• ▸Statistics Canada reported July employment rose by 75,000 (+0.4%), lifting the employment rate to 60.9% and pushing the unemployment rate down to 6.4% — the lowest since July 2024 — in its Labour Force Survey released August 7, 2026.
• ▸Gains were led by wholesale and retail trade, finance/insurance/real estate, professional services, and construction; Ontario drove the largest share of new jobs (+52,000), while public administration and agriculture shed workers.
• ▸Average hourly wages rose 2.8% year-over-year to $37.17, decelerating from June's 3.3% pace, even as youth unemployment eased from an April peak and racial gaps among young workers narrowed only modestly.