The employment picture in Canada last month was little changed.

The latest Statistics Canada report says the economy lost a modest 6400 jobs and the unemployment rate ticked up to 5.5-percent amid population growth.

July marks the third consecutive month that the unemployment rate has risen, signalling some loosening in the labour market.

Wage growth bounced back last month though, up 5-percent year-over-year.

Rising unemployment comes as high interest rates weigh on the economy, making borrowing more expensive for both businesses and consumers.

Stateside meantime, U.S. employers added 187,000 jobs last month as the labour market slowed but continued to show strength in the face of higher interest rates.

The unemployment rate dipped to 3.5 percent.

Hiring has remained solid, raising hopes that the United States can avoid a long-expected recession.