U.S. job growth likely slowed in July, with the unemployment rate forecast rising back to 4.2%, but that probably would be insufficient to spur the Federal Reserve to resume cutting interest rates soon as tariffs are starting to fan inflation.

Youth jobs hit decades-low, private-sector hiring fell, and economists say the weak report may sway the Bank of Canada’s September rate decision.

Canada’s labor market fell back to earth with a sharp drop in employment in July, putting a spotlight on the challenges the country’s job seekers continue to face.