Canada labour market weakens as October unemployment rate rises to 6.7%
Canada's labour market shows limited hiring momentum in October as overall employment is little changed and the employment rate edges lower. The softer reading comes with higher unemployment, sharper pressure on youth job seekers and mixed sector and provincial performance.
Highlights
- Canada's October unemployment rate rises to 6.7%, up 0.2 percentage points, as national employment falls by 4,700 positions and the employment rate drops to 60.5%.
- Youth unemployment jumps 0.7 percentage points to 13.7%, with rates for workers 55+ rising to 5.5%, while core-age group remains steady.
- Wholesale and retail trade lose 29,000 jobs, offset partially by construction (+16,000) and educational services (+15,000), with provincial declines focused in Alberta (-24,000).
October labour data show flat hiring and higher joblessness
As reported by Statistics Canada, employment is little changed in October, down by 4,700 positions, while the employment rate falls 0.1 percentage points to 60.5%. The national unemployment rate rises 0.2 percentage points to 6.7%.Youth aged 15 to 24 face a larger increase in unemployment, with the rate up 0.7 percentage points to 13.7%. The unemployment rate also rises for people aged 55 and older, up 0.2 percentage points to 5.5%, while for the core age group of 25 to 54 it is unchanged at 5.8% for men and 5.3% for women.
Average hourly wages among employees rise 2.2% from a year earlier, increasing by $0.83 to $37.89 in October. That follows year-over-year wage growth of 2.3% in September on a not seasonally adjusted basis.
Sector and regional trends point to uneven conditions
Industry results are mixed, with wholesale and retail trade posting the largest decline, down 29,000 jobs or 1.0%. Construction adds 16,000 jobs, or 0.9%, and educational services increases by 15,000, or 1.0%.At the provincial level, employment decreases in Alberta by 24,000, or 0.9%, and in Prince Edward Island by 1,300, or 1.3%. British Columbia records an increase of 12,000 jobs, or 0.4%, while Newfoundland and Labrador adds 2,900 positions, or 1.2%, highlighting uneven labour demand across Canada.
Our earlier article on early-career job switching explained that frequent job changes can be a major driver of wage growth and a pathway to better long-term job matches, despite its negative reputation. It also noted that when hiring momentum weakens—particularly for younger cohorts—workers may have fewer chances to move into better-fitting roles, which can affect both pay progression and employment stability.
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