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Canada’s unemployment rate falls as job growth accelerates in July

Statistics Canada reported the economy added 75,000 jobs in July, far above the expected 20,000 gain, and the unemployment rate declined.

Reported · Written up by our desk · Major Pairs

Canada’s labor market improved in July, with job gains coming in well above expectations and the unemployment rate dropping, according to Action Forex.

The economy added 75,000 jobs in July, up 0.4% month over month, versus a consensus forecast for a roughly 20,000 increase.

Monthly hiring was led by part-time roles, which rose by 57,900, while full-time jobs increased by 38,600.

Looking across the prior three months, full-time employment climbed by 193,000 while part-time positions declined by 12,100, Action Forex said.

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