The economy added 75,100 jobs in July, according to Statistics Canada’s Labour Force Survey released on August 7, and the unemployment rate fell to 6.5%, its lowest level in two years. That strong showing pulled the unemployment rate down by 0.3 percentage points, from 6.9% territory to 6.6%. At 6.5%, Canada’s jobless rate sits at its lowest point since mid-2024. The unemployment rate peaked earlier in the year closer to 7.1% in September 2025 before beginning its descent. Statistics Canada’s LFS currently estimates employment levels at around 21.14 million, with participation stable near 65%.