Canada’s unemployment rate inched higher to 6.7% in February 2026, up from 6.5% in January, according to the latest data updated on 13 March 2026. The increase suggests a further softening in labour market conditions following the start of the year.
The February uptick extends the trend seen in January, when unemployment had already risen to 6.5%. While the change to 6.7% is moderate, it indicates that more Canadians were out of work during the month, a development that investors and policymakers will be monitoring closely for its potential impact on household spending and overall economic momentum.
Market participants will likely watch upcoming data releases to gauge whether February’s rise is the beginning of a more sustained deterioration in employment conditions or a temporary pause in labour market resilience seen in previous periods.