Canada’s employment fell -2.8k in July, much worse than expectation of 26.9k growth. The 62k rise in full-time work was offset by -62k decline in part-time work. Employment rate fell -0.2% to 60.9%.
Unemployment rate was unchanged at 6.4%, below expectation of 6.5%. Labor participation rate fell -0.3% to 65.0%.
Average hourly wages among employees increased 5.2% yoy, slowed from 5.4% yoy.
