Canada’s unemployment rate edges up to six-month high in October – BNN Bloomberg

Canada’s unemployment rate edges up to six-month high in October  BNN Bloomberg

OTTAWA — Canada’s unemployment rate went up to a six-month high in October and the economy lost a few thousand jobs as the private sector and full-time employment saw declines, data showed on Friday. The unemployment rate edged up to 6.7 per cent in October from 6.5 per cent in the prior month, Statistics Canada said. The last time it was higher than this level was 6.9 per cent jobless rate in April. The economy lost a net of 4,700 jobs in the month, taking the total size of the jobs the economy lost this year to 46,000 overall. The October report highlights a continued weakness in the labour market in Canada that has failed to post any job gains on average this year as trade tensions between the U.S.

and Canada worsened and businesses hunkered down to save costs. More than one out of every four person in the employable population of 15 years and older found it difficult to meet its financial needs in terms of transportation, housing, food, clothing and other necessary expenses over the previous four weeks, StatsCan said. On an average monthly basis, the Canadian economy has lost 4,590 jobs this year so far, in contrast to an average gain of 17,606 in 2025, and 33,675 gains in 2024. Analysts polled by Reuters had forecast