Canada’s jobs machine roars back — but brokers shouldn’t celebrate yet
Those views come as new US tariff threats cloud Canada’s housing outlook, with US President Donald Trump having announced 50% tariffs on a range of Canadian goods set to take effect August 19.
Wages and where the jobs were gained
Average hourly wages rose 2.8% year-over-year in July, according to Statistics Canada, decelerating from 3.3% in June.
Sector gains were led by wholesale and retail trade, up 21,000, followed by finance, insurance, real estate, rental and leasing at 18,000, and professional, scientific and technical services at 17,000.
Construction added 16,000 positions and manufacturing contributed 11,000. Public administration shed 15,000 roles.
Ontario accounted for roughly two-thirds of the national gain, adding 52,000 jobs to bring its provincial jobless rate to a two-year low of 6.8%.
