The Canadian economy unexpectedly shed a net 31,200 jobs last month, driven by a decline in full-time positions that sent the unemployment rate up to 6.9 percent, data from Statistics Canada showed on Friday. Ontario was the worst performer with a loss of 36,000 jobs. The decline in jobs in July came well short of economists’ expectations nationally for a gain of 10,000. The increase in the unemployment rate, the highest since May, came even as the participation rate edged down to 65.4 percent. The drop in jobs was led by a 24,200 decline in employment in the public administration industry, helping the service sector shed 26,900 positions overall. But the goods-producing industries fared poorly as well, with natural resources losing 3,900 jobs, while employment in construction dropped by 9,000. Canada’s “gruesome twosome” paint bleak picture of the economy MInister says “overall trends” are not bad
