Job losses in Canada total 112,000 in 2026, with flat hours worked and rising unemployment signaling labor market weakness.
Canada lost 18,000 jobs in April, extending a downturn that has erased 112,000 positions in 2026. The unemployment rate climbed to 6.9%, its highest level in over two years, while hours worked remained unchanged.
Job losses have accelerated since late 2025, with April marking the fourth consecutive monthly decline. The labor force participation rate held steady, but wage growth has softened, reflecting broader economic cooling.
Markets are monitoring the data for signs of further monetary policy easing as labor market slack builds.