Canada loses 40,800 jobs in July, largest monthly decline since the COVID pandemic.

Multiple reputable sources confirm that Canada experienced a significant job loss in July 2025, with figures ranging from about 40,800 to 41,000 jobs lost. This decline is noted as the largest monthly drop since the pandemic's peak impact on employment, specifically since January 2022. The unemployment rate held steady around 6.9%, which is a multi-year high outside of the pandemic context. The job losses were primarily driven by decreases in full-time employment. While some sources mention a figure of 41,000 jobs lost, the difference is marginal and within typical reporting variances. This confirms the claim's core accuracy.

However, it is important to note that this decline is described as the largest since the pandemic but not necessarily the largest ever; some sources specify it as the largest drop in seven years excluding the pandemic period. Thus, the statement is mostly true but slightly simplified regarding historical context.