Despite the drop, the unemployment rate held steady at 6.9%, as the number of job seekers remained largely unchanged.
🔍 Who Was Hit the Hardest?
The losses were concentrated in full-time work and the private sector, with youth aged 15–24 seeing the steepest declines amid an already challenging summer job market.
By sector:
- ❌ Information, culture and recreation led the losses
- ❌ Construction followed closely behind
- ✅ Manufacturing — despite tariff pressures — posted its second month of modest gains
🏡 What This Means for Homeowners
Economic uncertainty often creates ripple effects for households:
- Rising job insecurity can make traditional mortgage approvals harder to get
- Seasonal employment drops can disrupt income stability
- Bank lending criteria often tighten when the economy softens
💡 How Lendworth Can Help in Uncertain Times
If you’ve been affected by reduced hours, layoffs, or shifting job conditions, your home equity can be your safety net.
Lendworth offers:
- ✅ Equity-based mortgages — approvals based on property value, not income or credit
- ✅ Bridge loans and refinances to consolidate debt or access cash flow
- ✅ Fast funding — often within 48 hours
- ✅ Lending on residential properties in the GTA you can drive by
📊 Why Equity-Based Lending Matters Right Now
With traditional lenders tightening up, more Canadians are turning to private lending to:
- Cover unexpected expenses during employment gaps
- Pay down high-interest debt while rates are still manageable
- Maintain financial stability during a career change or transition
At Lendworth, our focus is on credibility, liquidity, and sound lending decisions — ensuring both borrower flexibility and investor protection.
📞 Secure Your Financing Before You Need It
Economic shifts can happen fast.
Get pre-approved with Lendworth now, so if your income changes, your financing won’t.
📲 Call us today or apply online to learn how much equity you can unlock from your home.
When jobs slow down, your home equity can keep you moving forward.