{"id":159754,"date":"2026-08-07T18:16:10","date_gmt":"2026-08-07T18:16:10","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/159754\/"},"modified":"2026-08-07T18:16:10","modified_gmt":"2026-08-07T18:16:10","slug":"canada-adds-75000-jobs-as-unemployment-falls-to-two-year-low","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/159754\/","title":{"rendered":"Canada adds 75,000 jobs as unemployment falls to two-year low"},"content":{"rendered":"<p paraeid=\"{56aa9571-47da-4145-9732-e23a52a6f42c}{17}\" paraid=\"739021185\">Hencic\u00a0points to\u00a0strong second-quarter gross domestic product (GDP) growth as a tailwind, noting the data suggests &#8220;the second quarter of 2026 is going to be very strong.&#8221; But\u00a0he notes that\u00a0some of that bounce-back reflects the smoothing of first-quarter disruptions, including weather-related impacts. TD Economics&#8217; June forecast called for annualized Q3 and Q4 growth of 1.9 and 1.7 per cent\u00a0respectively \u2013 though\u00a0Hencic\u00a0believes\u00a0Q2 is likely to come in stronger, which may temper those numbers slightly.\u00a0<\/p>\n<p paraeid=\"{56aa9571-47da-4145-9732-e23a52a6f42c}{19}\" paraid=\"2033632396\"><a href=\"https:\/\/www.bankofcanada.ca\/core-functions\/monetary-policy\/\" rel=\"noreferrer noopener nofollow\" target=\"_blank\">The Bank of Canada, weighing tariff risks against upward energy price pressures<\/a>, has held rates steady. &#8220;We think the balance of risk is such that\u00a0[the rates]\u00a0stay on hold as the economy gradually continues to recover,&#8221;\u00a0says\u00a0Hencic. \u201cThe unemployment rate is at its lowest level in quite some time, but it&#8217;s still at 6.4 per cent, which is indicative of an economy, a\u00a0labour\u00a0market that still has slack in it.\u201d\u00a0<\/p>\n<p>Private sector rebound signals talent competition ahead\u00a0<\/p>\n<p paraeid=\"{56aa9571-47da-4145-9732-e23a52a6f42c}{23}\" paraid=\"1449730320\"><a href=\"https:\/\/www150.statcan.gc.ca\/n1\/daily-quotidien\/260807\/dq260807a-eng.htm\" rel=\"noreferrer noopener nofollow\" target=\"_blank\">The July data revealed a clear divergence<\/a>\u00a0between public and private sector employment. Public sector employment declined by 27,000 (-0.6\u00a0per cent), while private sector jobs grew by 58,000 (+0.4\u00a0per cent) and self-employment rose by 44,000 (+1.6\u00a0per cent). Since April, private sector employment\u00a0is\u00a0up 146,000 and self-employment by 73,000, according to\u00a0StatCan.\u00a0<\/p>\n<p paraeid=\"{56aa9571-47da-4145-9732-e23a52a6f42c}{25}\" paraid=\"438712150\">&#8220;The return of dynamism in the private sector is encouraging,&#8221;\u00a0says\u00a0Hencic, noting\u00a0that former public-sector employees are unlikely to leave the\u00a0labour\u00a0force entirely. &#8220;They&#8217;re going to be looking for work \u2013 if not in the public sector, then in the private sector. That shifting composition may indicate that as well.&#8221;\u00a0<\/p>\n<p paraeid=\"{56aa9571-47da-4145-9732-e23a52a6f42c}{27}\" paraid=\"1193643398\">Hencic\u00a0believes\u00a0that the quality of those private sector gains matters. &#8220;If we can start to see those job gains continue to pick up in the private sector, that would be encouraging,\u201d he says.\u00a0\u201cWe\u00a0would hope that&#8217;s\u00a0in high-productivity industries and helps raise livelihoods across the board.&#8221;\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Hencic\u00a0points to\u00a0strong second-quarter gross domestic product (GDP) growth as a tailwind, noting the data suggests &#8220;the second quarter&hellip;\n","protected":false},"author":2,"featured_media":159755,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[17,12629,8791,6649],"class_list":["post-159754","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-canada","tag-competition","tag-unemployment","tag-wages"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/159754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=159754"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/159754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/159755"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=159754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=159754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=159754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}