Canada Employment Research Brief

Employment strength defies expectations. Canada’s labour market posted another surprisingly strong performance in October, adding 66,600 jobs and pushing the unemployment rate down 20 basis points to 6.9 per cent. The gains were concentrated in private-sector industries tied to trade, with notable increases in wholesale and retail trade, transportation and warehousing, and manufacturing. These results suggest that despite elevated uncertainty surrounding tariffs, the domestic economy remains resilient — helped by a relatively low effective U.S. tariff rate and improving sentiment in goods-producing sectors. Although total hours worked edged lower amid labour disputes and an education-sector pullback, the broader picture points to a market regaining balance as population growth moderates and earlier hiring softness begins to reverse