Home Trading Canada employment dropped -30.6k in Jul, unemployment rate unchanged at 4.9%

Canada employment dropped -30.6k in Jul, unemployment rate unchanged at 4.9%

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Canada employment dropped -30.6k in July, much worse than expectation of 25.0k growth. Services-producing jobs dropped -53k or -0.3% while goods-producing jobs rose 23k or 0.6%.

Unemployment rate was unchanged at 4.9%, below expectation of 5.0%, but matched the historic low reached in June. Total hours worked were down -0.5%. Average hourly wages was up 5.2% yoy.

Full release here.

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