Canada’s unemployment rate jumps to 6.7% as economy loses 4,700 jobs

Financial Post · Paula Tran · 2026-11-06 13:47 UTC

Most of the job losses were recorded in full-time employment

Canada’s unemployment rate jumped to 6.7 per cent in October from 6.5 per cent as the economy lost 4,700 jobs and more people searched for work.

Around 18,100 full-time positions were shed in October — a 0.1 per cent decline month over month — while part-time employment grew by 13,400 positions — a 0.4 per cent increase month-over-month.

Most of the job losses were recorded in the services sector, which shed 25,300 jobs, a 0.1 per cent month-over-month decline. Wholesale and retail trade took the biggest hit, losing 29,000 jobs.

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