Close Menu
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Facebook X (Twitter) Instagram
Truth Republican
  • Home
  • News
  • Politics
  • Business
  • Guns & Gear
  • Healthy Tips
  • Prepping & Survival
  • Videos
Newsletter
Truth Republican
You are at:Home»Business»Canada slashes tens of thousands of jobs in sharp economic shift after Trump imposed tariffs
Business

Canada slashes tens of thousands of jobs in sharp economic shift after Trump imposed tariffs

Buddy DoyleBy Buddy DoyleAugust 9, 2025No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
Canada slashes tens of thousands of jobs in sharp economic shift after Trump imposed tariffs
Share
Facebook Twitter LinkedIn Pinterest Email

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.

TRUMP ESCALATES CANADA TARIFFS TO 35% WHILE SETTING NEW TARIFF RATES FOR DOZENS OF OTHER COUNTRIES

As part of a broader “America First” trade policy, Trump introduced sector-specific tariffs in an effort to protect U.S. manufacturing and reduce trade deficits with key partners. 

Manufacturing employment fell by nearly 10,000 from a year earlier, according to Statistics Canada, Reuters said. 

Marty Warren, national director of the United Steelworkers union, confirmed to the outlet that about 1,000 of its members have been laid off.

TRUMP RAISES TARIFFS ON INDIA, CANADA, BRAZIL AND OTHERS OVER STALLED TRADE DEALS

Bank of Canada

Youth workers were hit especially hard. Unemployment among 15- to 24-year-olds jumped to 14.6%, while their employment rate fell to 53.6%, levels unseen since the late 1990s, excluding pandemic years, Reuters added.

Despite the setbacks, the national layoff rate stayed at 1.1%, suggesting some stability in other parts of the economy, the outlet said.

The Bank of Canada left its benchmark interest rate unchanged this week but reportedly hinted it could move to cut rates if growth continues to falter and inflation remains under control.

US President Donald Trump signs an executive order

Oxford Economics economist Tony Davenport expects further job losses ahead, forecasting about 140,000 more layoffs and unemployment climbing into the mid-7% range later this year, according to Reuters.

FOX Business reached out to the White House for comment.

Reuters contributed to this report.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleMontauk yacht death: Timeline reveals bikini mogul’s final days in Hamptons before mysterious demise
Next Article John Leguizamo torches Dean Cain as a ‘loser’ for joining ICE, but Superman actor offers gentle reply

Related Articles

Freedom economy rising: Why skipping college may be the smartest career move

Freedom economy rising: Why skipping college may be the smartest career move

August 30, 2025
Spirit Airlines files for second bankruptcy in under a year as low-cost carrier continues to struggle

Spirit Airlines files for second bankruptcy in under a year as low-cost carrier continues to struggle

August 30, 2025
Shell faces lawsuit over alleged racial bias in corporate reorganization

Shell faces lawsuit over alleged racial bias in corporate reorganization

August 29, 2025
Jeff Bezos, Lauren Sanchez take Europe – and the dance floor – by storm after wedding

Jeff Bezos, Lauren Sanchez take Europe – and the dance floor – by storm after wedding

August 29, 2025
Fed’s favored inflation gauge shows consumer price pressures remained elevated in July

Fed’s favored inflation gauge shows consumer price pressures remained elevated in July

August 29, 2025
Trump asks court to allow removal of Fed’s Lisa Cook immediately; judge sets quick schedule

Trump asks court to allow removal of Fed’s Lisa Cook immediately; judge sets quick schedule

August 29, 2025
Trump official issues second criminal referral for Federal Reserve Governor Lisa Cook

Trump official issues second criminal referral for Federal Reserve Governor Lisa Cook

August 29, 2025
Cook’s lawsuit against Trump sets up a potential Supreme Court clash

Cook’s lawsuit against Trump sets up a potential Supreme Court clash

August 29, 2025
About 780,000 pressure washers recalled after reported explosions and injuries

About 780,000 pressure washers recalled after reported explosions and injuries

August 29, 2025
Don't Miss
Freedom economy rising: Why skipping college may be the smartest career move

Freedom economy rising: Why skipping college may be the smartest career move

Parents: Virginia boys suspended after questioning transgender locker room policy were ignored by school

Parents: Virginia boys suspended after questioning transgender locker room policy were ignored by school

Shilo Sanders shares what’s next for him after Bucs release

Shilo Sanders shares what’s next for him after Bucs release

DOJ permits attorneys without immigration case experience to be temporary judges amid major backlog

DOJ permits attorneys without immigration case experience to be temporary judges amid major backlog

Latest News
Trump Takes Conceal Carry to the NEXT Level

Trump Takes Conceal Carry to the NEXT Level

August 30, 2025
Abbott signs Texas redistricting map into law, securing major GOP victory ahead of 2026 midterms

Abbott signs Texas redistricting map into law, securing major GOP victory ahead of 2026 midterms

August 30, 2025
Top Senate Republican ready to ‘roll over’ Democrats with rule change to confirm Trump nominees

Top Senate Republican ready to ‘roll over’ Democrats with rule change to confirm Trump nominees

August 30, 2025
Meet the radical anti-Israel activists joining ‘Squad’ Dem Tlaib at Detroit confab

Meet the radical anti-Israel activists joining ‘Squad’ Dem Tlaib at Detroit confab

August 30, 2025
Charlamagne confronts ex-DNC chair for failing to ‘tell the truth’ about Biden’s decline

Charlamagne confronts ex-DNC chair for failing to ‘tell the truth’ about Biden’s decline

August 30, 2025
Copyright © 2025. Truth Republican. All rights reserved.
  • Privacy Policy
  • Terms of use
  • Contact

Type above and press Enter to search. Press Esc to cancel.