Statistics Canada said on Friday the unemployment rate fell to its lowest level in two years to 6.4 per cent. “The labour market is not yet strong,” RBC assistant chief economist Nathan Janzen said in a note to clients. Average hourly wages were up 2.8 per cent in July year-over-year, though it decelerated from 3.3 per cent growth in June. Desjardins managing director Royce Mendes said the labour market still has a long road to recovery. “That said, even with the big gains seen in July, the labour market isn’t back to full health.