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Canada’s Labour Market Surges in June, Defying Economic Forecasts

Canada’s job market delivered a pleasant surprise in June, as the national unemployment rate dipped to 6.9% , defying economists’ expectations of a rise to 7.1%. According to Statistics Canada, the economy added 83,000 jobs , marking the first significant employment gain since January. The bulk of the new positions were part-time roles , with 47,000 jobs  created in the private sector. Key growth sectors included wholesale and retail trade , which added 34,000 jobs, and health care and social assistance , which saw a boost of 17,000 positions. Even the manufacturing sector , previously hit by trade tensions, posted a modest gain of 10,000 jobs. This unexpected uptick in employment has prompted analysts to reconsider their forecasts for the Bank of Canada’s upcoming interest rate decision. While some had anticipated a rate cut, the strength of the June labour report may delay such moves. Despite the positive headline numbers, challenges remain. Student unemployment  remains ele...
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Tariff Tensions Rise as EU Awaits Trump’s Next Move

The European Union is holding its breath as it awaits a formal letter from U.S. President Donald Trump that could outline sweeping new tariffs on European exports. This development follows a flurry of tariff announcements targeting countries such as Japan, South Korea, and Canada, with rates climbing as high as 50% on copper and 35% on Canadian goods.

Negotiations between the EU and the U.S. have been ongoing, with hopes of reaching a framework trade agreement before the August 1 deadline. However, internal divisions within the EU—Germany pushing for a swift deal to protect its industrial base, while France urges caution against a one-sided agreement—have complicated the bloc’s position.

Trump’s unpredictable tariff strategy has already rattled global markets. European shares dipped, gold prices rose for a third straight session, and U.S. futures slid as investors sought safe havens amid uncertainty. The EU has prepared countermeasures, including levies on up to €72 billion worth of U.S. imports, though these remain suspended for now.

As the deadline looms, EU officials remain hopeful yet cautious. “We remain locked and loaded to sign an agreement with the U.S.,” said EU spokesperson Olof Gill. “Let’s see what happens when our friends in Washington wake up a few hours from now”.

Whether the EU receives a conciliatory letter or a fresh tariff salvo, the outcome will likely shape the trajectory of transatlantic trade for months to come.

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