Employment Trends

The unemployment rate in Canada was 6.5% as of October 2026, unchanged from the previous month. The unemployment rate stood 7% below the peak in June 2020 and is below the long-run average.

There were 29,800 fewer full-time jobs in October 2026 compared to a month earlier. Combined with a loss of 8,400 part-time positions, this led to a decrease of 38,200 total jobs in October.

Full-time employment was down 40,700 jobs from the peak in August 2026.

* All figures are seasonally adjusted, three-month moving averages. Seasonal adjustment removes normal seasonal fluctuations.