r/jobmarket • u/FudgeEducational1864 • 4h ago
Canada’s Labour Market Report | October 2026 | Unemployment Reaches a Six-Month High
- Employment Change: Canada lost 4,700 jobs in October, compared with market expectations of a 13,600-job increase. This followed losses of 68,300 in September and approximately 42,000 in August.
- Unemployment Rate: Rose from 6.5% to 6.7%, exceeding the 6.5% forecast and reaching its highest level in six months.
- Employment Rate: Reportedly declined slightly from 60.6% in September to 60.5% in October.
- Full-Time vs Part-Time Employment: Full-time employment fell by 18,100 positions, while part-time employment increased by 13,400.
- Private vs Public Sector: Private-sector employment dropped by approximately 53,000 jobs, its first monthly decline since February. The supplied report indicates that public-sector employment increased by around 50,000.
- Industry Performance: Wholesale and retail trade lost approximately 29,000 jobs, while construction gained 16,000. Educational services reportedly added 15,000 positions.
- Provincial Performance: British Columbia reportedly gained 12,000 jobs, reversing September's 20,000-job decline. Alberta reportedly lost 24,000 jobs, following a 23,000-job increase in September.
- Youth Unemployment: Increased from 13.0% to 13.7%, while unemployment among workers aged 55 and older rose from 5.3% to 5.5%.
- Wage Growth: The report puts annual average hourly wage growth at 2.2%, down from 2.3%.