🇨🇦 CANADA EXPERIENCES THE MOST JOB LOSS IN MANY YEARS

🔹 Canada lost 40,800 jobs in July, the largest decline since January 2022 and also the largest in seven years excluding the pandemic period.

🔹 Most of the decline came from full-time jobs and focused on the youth group aged 15 to 24.

🔹 The youth unemployment rate rose to 14.6%, the highest since 2010 excluding the pandemic period, and their employment rate dropped to the lowest level since 1998.

🔹 The national unemployment rate remained at 6.9%, up from 6.6% at the beginning of the year.

🔹 Nearly a quarter of unemployed individuals have been job searching continuously for 27 weeks or more, the highest level of long-term unemployment since 1998 excluding the pandemic period.