UPDATE 3-Public sector hit hard as Canada loses jobs in July

Fri Aug 9, 2013 11:18am EDT
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* 39,400 jobs lost in July vs forecast of 10,000 gain

* Jobless rate ticks up to 7.2 percent from 7.1 percent

* Public sector, youth hardest hit

* No change in Bank of Canada policy seen

* Employment trend consistent with mild growth

By Louise Egan

OTTAWA, Aug 9 (Reuters) - Record job losses in the public sector and scarce opportunities for young people led to unexpected weakness in the Canadian labor market in July, hinting at a sluggish economic start to the third quarter.

Canada lost a net 39,400 jobs during the month, and the unemployment rate ticked up to 7.2 percent from 7.1 percent in June, Statistics Canada said on Friday.   Continued...