Canada’s unemployment rate reaches 6.7% as October employment falls

Canada’s unemployment rate rose to 6.7% in October from 6.5% in September, reaching a six-month high, according to Statistics Canada data reported by The Business Recorder. The increase followed job losses in August and September, TokenPost reported. The last time the rate was higher was April, when it reached 6.9%, The Business Recorder said.

The economy shed 4,700 net jobs in October, according to The Business Recorder, which reported that declines were concentrated in full-time employment, down by 18,100. Its account also said private-sector employment fell. The job total was weaker than the 13,600-job increase economists polled by Reuters had forecast, while the unemployment rate had been expected to remain at 6.5%, the outlet reported.

The October decline brought net job losses for the year to 46,000, The Business Recorder reported. It put average monthly employment losses so far this year at 4,590, compared with average gains of 17,606 in 2025 and 33,675 in 2024. The same report said Canada had not recorded average monthly job gains this year.

The Business Recorder described the October figures as a sign of continued weakness in Canada’s labor market. It said businesses had been curbing costs amid worsening trade tensions between the United States and Canada. That account also cited Statistics Canada data showing that more than one in four people aged 15 and older in the employable population had difficulty covering necessary expenses, including housing, food and transportation, over the previous four weeks.

The Bank of Canada’s next interest-rate announcement is scheduled for Dec. 9, TokenPost reported. The October labor-market figures arrive ahead of that decision, with employment falling and the jobless rate rising from September, according to the reports.