FX.co ★ Canada Job Growth at 17-Month High

Employment in Canada increased by 88,000 in May 2026 compared with the previous month, the largest monthly gain since December 2024 and far exceeding market expectations for a 10,000 increase. This rebound followed a cumulative net loss of 112,000 jobs over the first four months of the year.

Both private and public employment contributed to the upswing, with private-sector payrolls rising by 56,000 and public-sector employment up by 20,000. Full-time employment grew strongly, adding 154,000 positions, while part-time jobs declined by 66,000 and self-employment remained largely unchanged.

Job gains were concentrated in several industries: construction (+27,000); information, culture and recreation (+19,000); transportation and warehousing (+19,000); and accommodation and food services (+17,000). By contrast, wholesale and retail trade lost 35,000 jobs.

Regionally, employment increased in Ontario, British Columbia, Alberta, and Prince Edward Island, while Saskatchewan posted a decline. The overall employment rate rose by 0.2 percentage points to 60.7%.