Canada's July Hiring Surge Cuts Unemployment to Two-Year Low

Canada added 75,000 jobs in July 2026, Statistics Canada reported August 7 — tripling the 20,000 economists expected. Unemployment fell to 6.4% from 6.5% in June, a two-year low. The employment rate rose to 60.9%. The gains arrive as U.S. tariff pressure (import taxes on Canadian goods) mounts, which could test whether this momentum holds.