Economy lost 41,000 jobs in July but unemployment rate held steady at 6.9%

OTTAWA — The Canadian economy shed some 41,000 jobs in July as young workers and the private sector bore the brunt of the losses, Statistics Canada said Friday.

The unemployment rate held steady at 6.9 per cent as the number of job seekers was roughly unchanged from June.

The economy lost 51,000 full-time positions in July, and StatCan said the bulk of the losses were in the private sector.

Young workers in particular continue to struggle in a tough summer jobs market.

Youth aged 15 to 24 lost 34,000 positions last month while the employment rate for the age group fell to 53.6 per cent – the lowest level since November 1998, outside the COVID-19 pandemic.

July's drop in jobs partially offsets an unexpected gain of 83,000 positions in June.

StatCan said employment was down across seve