Canadian Jobs Surprise with Strong 83.1K Increase; Unemployment Rate Falls to 6.9% in June

Canadian Jobs Surprise with Strong 83.1K Increase; Unemployment Rate Falls to 6.9% in June

Published: July 11, 2025
Category: Economy | Canada | Forex

June Employment Data Beats Expectations

Statistics Canada reported on Friday that Canada’s unemployment rate dropped slightly to 6.9% in June, surpassing analyst forecasts.

Robust Job Growth Boosts Market Sentiment

The net change in employment soared to 83.1K new jobs, a significant rise compared to May’s 8.8K increase. The participation rate also edged higher to 65.4%, up from 65.3% the previous month.

Wage Growth Moderates

Average hourly wages increased by 3.2% year-over-year, easing slightly from May’s 3.5% rise, signaling moderate wage inflation.

Market Impact: USD/CAD Retreats

Following the strong data, USD/CAD pulled back to the 1.3650 region, reflecting improved confidence in the Canadian labor market and prospects for Bank of Canada policy.

Key Points to Watch:

• Upcoming Bank of Canada interest rate decisions
• Further labor market reports
• US-Canada trade developments
• USD strength and global risk sentiment

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