Unemployment climbs to 6.7% as Canada sheds jobs for third straight month
Statistics Canada reported Friday that the economy shed 4,700 jobs in October, pushing the unemployment rate up 0.2 percentage points to 6.7 per cent as more people, especially younger Canadians, looked for work. That follows back-to-back losses in August and September totalling more than 100,000, bringing the three-month decline to roughly 115,000 positions. The weak report sent the Canadian dollar to about 70.8 US cents, its sharpest one-day drop since January, and cut market-implied odds of another Bank of Canada rate hike in December from about 40 to 36 per cent. Economists say the softening labour market could lead the central bank to hold rates steady at its December meeting. Also in this briefing: Bank of Canada and Ottawa renew 2% inflation target; Supreme Court to hear constitutional challenges to federal gun ban.
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Canada shed forty-seven hundred jobs in October, pushing the unemployment rate up to six point seven per cent.
Temporary election hiring masked the loss of fifty-three thousand private-sector positions.
Youth unemployment surged to thirteen point seven per cent while prime-age joblessness remained steady.
Wholesale and retail trade drove the services contraction, losing nearly twenty-nine thousand positions in October.
The Bank of Canada renewed its two per cent inflation mandate while dropping maximum sustainable employment references.
The Supreme Court agreed to hear constitutional challenges regarding the federal ban on fifteen hundred firearm models.
- 01Intro1 min
- 02Unemployment climbs to 6.7% as Canada sheds jobs for third straight month: The October Numbers2 min
- 03Unemployment climbs to 6.7% as Canada sheds jobs for third straight month: Market Fallout and Policy Outlook2 min
- 04Bank of Canada and Ottawa renew 2% inflation target1 min
- 05Where things stand1 min
- 06Supreme Court to hear constitutional challenges to federal gun ban2 min
- 07Outro1 min
- The Daily — Labour Force Survey, October 2026
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- Unemployment ticked up to 6.7% in October, says StatCan - National | Globalnews.ca
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- Joint Statement of the Government of Canada and the Bank of Canada on the Renewal of the Monetary Policy Framework
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- Document
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- NRA-ILA | Canadian Appeals Court Upholds 2020 Gun Bans – “Reasonable” and “Rationally Connected to a Legitimate Objective”
- Assault-Style Firearms Bans: Timeline 2020–2026 | Mor Fisher
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- WE ARE IN!
- Firearms Bans Challenge at the Supreme Court of Canada:
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