According to Jinshi Data, Canada's job vacancies fell sharply in the second quarter to their lowest level since the pandemic, providing more evidence of a weak labor market. Job vacancies fell 9.2% to 582,600, slightly above the level of 560,260 in the first quarter of 2020. The Bank of Canada cut interest rates for the third time in a row this month, as officials have become increasingly concerned about the weak labor market and the need to stimulate economic growth.