Canada Employment Research Brief

Labour market under pressure. Canada’s job market is showing clear signs of strain as tariff uncertainty weighs on the economy. In August, employment fell by 66,500 jobs following July’s decline of 40,800 – the steepest monthly drops since early 2022. Year-to-date job gains have been pared back to just 36,500, while the six-month average has slipped into negative territory at -6,000. Losses were widespread, spanning the private, public and self-employed sectors, underscoring how trade frictions are dragging on activity.