‘Putrid’ Canada Jobs Report Heaps Pressure on Carney and BOC

The Canadian economy shed jobs for a second consecutive month and the unemployment rate rose to a four-year high, increasing the odds of an interest-rate cut from the Bank of Canada this month.

Employment fell by 65,500 positions in August while the jobless rate reached 7.1%, Statistics Canada data showed Friday. The number of job losses surpassed even the most pessimistic projection in a Bloomberg survey of economists.

The report shows an economy badly wounded by the tariff war with the US and by trouble in white-collar and services sectors. Employment fell the most in professional services, transportation and manufacturing. ...