Canada added 75,000 new jobs in July. The unemployment rate is now 6.4%, which is the lowest it has been since July 2024.

The labour force survey was released on Friday. The unemployment rate went down by 0.1% from June, when 18,000 jobs were added.

This is the third month in a row that the unemployment rate has gone down. It is also 0.5% lower than it was in July last year.

An expert said that what matters is not just one month of data, but the fact that the numbers have been good for three months in a row. Since April, 181,000 jobs have been added and the unemployment rate has gone down by half a percentage point.

One month of good data can be just a coincidence, but three months in a row shows a trend.

Most of the new jobs were for people between 25 and 54 years old. Women made up 33,000 of the new jobs.

More people who were unemployed in June found jobs in July. The job finding rate went up to 20.8% from 18.5% last year.

The participation rate, which shows how many Canadians are working or looking for work, was 65.1%. This is almost the same as it was in June.

The number of people working went up to 60.9% of the population, from 60.8% in June.

An economist said that the jobs report was better than expected.

There were 75,000 new jobs in July, which is more than expected. The unemployment rate went down, but not by much.

The labour market had a summer surge in hiring, but the unemployment rate is still higher than it should be.

Youth unemployment was 12.6% in July, which is a little lower than it was in June. It is still higher than it was before the pandemic.

Most of the new jobs were either full-time or part-time. There were 58,000 new jobs in the private sector and 44,000 more people became self-employed.

The public sector lost 27,000 jobs. The government is trying to cut costs by reducing the number of employees.

The retail trade sector had the most new jobs in July, with 21,000. But it still has 50,000 fewer jobs than it did last year.

There were also many new jobs in finance, real estate, and construction. But these industries still have the same number of jobs as they did last year.

The number of jobs in these industries did not change much over the past year, despite the new jobs added in July.

The economy probably did well in the second quarter, with a 3.4% growth in GDP.

But there is still uncertainty because of the US tariffs on Canadian imports.

The labour market is not strong yet, with an unemployment rate that is still higher than normal. Wage growth also slowed down in July.

The labour market is getting better, but there is still uncertainty because of the US tariffs. However, most Canadian exports to the US are still duty-free.

The labour market seems to be stabilizing after a slow first quarter. Economists said this before the report was released.

This report was helped by The Canadian Press.

We stick to the facts.

You can add Global News as a preferred source on Google to see more of our stories.

You can get the day's top news stories from Canada and the world by email.

You can get the day's top news stories from Canada and the world by email.