Canada's Unemployment Rate Rises to 6.7 Per Cent

Statistics Canada reported that the economy lost a net 4,700 jobs in October, pushing the unemployment rate up from September.

Updated on Nov. 6, 2026 in Employment

Canada's Unemployment Rate Rises to 6.7 Per Cent

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Canada's unemployment rate rose to 6.7 per cent in October from 6.5 per cent in September, according to Statistics Canada. The economy lost a net 4,700 jobs during the month, with job losses so far this year totalling 46,000.

Why it matters

The increase marks the highest unemployment rate since April, when it reached 6.9 per cent. Analysts polled by Reuters had expected job gains and a stable unemployment rate, making the result a notable shortfall.

The October labour force survey shows unemployment at 6.7 per cent, up from 6.5 per cent in September, with a net loss of 4,700 jobs against a forecast gain of 13,600. Whether the decline in employment will continue into coming months remains unclear from the figures released.

The players

Statistics Canada

Canada's national statistical agency, responsible for publishing the monthly labour force survey that measures employment and unemployment.

The details

Full-time employment fell by 18,100 jobs and private sector employment dropped by 52,500, with wholesale and retail trade losing 28,800 jobs. Construction added 16,000 jobs, and youth unemployment for those aged 15 to 24 rose 0.7 percentage points to 13.7 per cent.

April 2026: unemployment last reached 6.9 per cent.
September 2026: the economy lost 68,300 jobs as unemployment stood at 6.5 per cent.
October 2026: unemployment rose to 6.7 per cent with a net loss of 4,700 jobs.

Macro View

The October report continues a 2026 run of job losses in Statistics Canada's Labour Force Survey, with 46,000 jobs lost year to date. The unemployment rate has now climbed back to 6.7 per cent, close to the 6.9 per cent peak recorded in April.

Canadians searching for work face a tougher job market, with youth unemployment at 13.7 per cent. Households may feel the squeeze as hourly wage growth of 2 per cent trails the rise in unemployment.

The takeaway

Job seekers in Canada should watch sector-level hiring closely, since the losses concentrated in retail, trade and transportation while construction grew. Tracking monthly Labour Force Survey releases can help gauge whether the trend is stabilizing.