Canada shed tens of thousands of jobs in July, dragging the country’s employment rate to its lowest point in eight months as U.S. President Donald Trump’s tariffs rippled through key industries.

The labor market’s reversal came just weeks after a surge in hiring. Statistics Canada data, cited by Reuters, showed the economy created 83,000 jobs in June but lost 40,800 in July, erasing nearly half of that gain.

The share of working-age Canadians with jobs slipped to 60.7%, while the unemployment rate held steady at a near-multi-year high of 6.9%, according to the outlet.

Trump's sectoral tariffs on steel, aluminum and autos have hit the manufacturing sector hard and reduced the hiring intentions of companies, Reuters said, citing statements from the Bank of Canada.

As part of a broade

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