Economy · 5x forecast · ArchiveCanada Adds 75,000 Jobs — 5x Forecast as Unemployment Hits 2-Year LowAired August 8, 2026 at 12:47 AM UTCWritten September 7, 2026 at 9:22 PM UTCRead the write-upThis storyTranscript · LOADING0:00Canada added 75,000 [music]0:01jobs in July 2026, five times the0:04roughly 15,000 economists [music] had0:06forecast, and the unemployment rate fell0:08to 6.4% the lowest in 2 years.0:11Statistics [music] Canada reported via0:13CBC's Angie Seth, "The July gain blew0:15past expectations and pushed0:17unemployment to [music] its lowest level0:19in 2 years, marking the third straight0:21month the rate has fallen. A run0:23economists [music] described as strong0:25and a continuation of gradual0:26improvement." The gains were split0:28between full-time and part-time work,0:30[music] but the geography was uneven.0:32Ontario added the most jobs and together0:34with British Columbia showed the biggest0:36provincial increases, while Manitoba0:37[music]0:38and Nova Scotia recorded more modest0:40gains, according to Statistics Canada0:42data cited by Angie Seth. The core of0:44the hiring was among Canadians aged 250:47to 54, where employment rose by about0:4951,000. [music]0:51By sector, wholesale and retail trade,0:53shop floors and warehouses where job0:55swings [music] feed directly into0:56household incomes and consumer spending0:58recorded the biggest gains. For young1:00workers, unemployment held at about 12.51:02[music] to 12.6% roughly unchanged from1:06June and well below April, signaling a1:08summer youth job [music] market much1:09stronger than last year. That1:11concentration in wholesale and retail1:13matters because those paychecks flow1:15straight into consumer spending,1:17amplifying the [music] impact beyond the1:18headline number. With the labor market1:20outperforming, economists now expect the1:23Bank of Canada to keep interest rates1:24unchanged until late 2026 or early 2027.1:27Angie Seth reports citing [music]1:29economist expectations, "Holding1:31borrowing costs steady while the next1:32Bank decisions test whether this hiring1:34strength persists or stalls."Explore with HeyDexThe shortThe short ↗