Canada’s labour market rebounded in June, with Statistics Canada reporting that the economy created 83,100 jobs—the first significant gain since January—and nudging the unemployment rate down to 6.9% from 7.0%. Analysts surveyed by Reuters had expected no employment growth and a rise in joblessness to 7.1%. Most of the new positions were part-time, though full-time employment also rose. Hiring was led by wholesale and retail trade, which added 33,600 jobs, followed by healthcare and social assistance with 16,700 and manufacturing with 10,500. The participation rate inched up to 65.4%. Average hourly wages for permanent employees increased 3.2% from a year earlier to C$37.22, while the lay-off rate remained low at 0.5%. The stronger-than-forecast report prompted traders to scale back expectations for a Bank of Canada rate cut at its 30 July meeting, with money-market pricing showing the probability of an immediate move falling below 20%. The Canadian dollar held near C$1.3671 per U.S. dollar and two-year government bond yields climbed about two basis points to 2.72%.