FX.co ★ Canada’s Unemployment Rate Edges Up to 6.5% in September 2026

Canada’s labour market showed signs of softening in early autumn, as the national unemployment rate ticked up to 6.5% in September 2026, from 6.4% in August. The latest figure, updated on 9 October 2026, suggests a modest deterioration in hiring conditions compared with the previous month.

The 0.1 percentage point increase, while slight, indicates that more Canadians were actively seeking work in September and unable to find it. The move higher continues to place the jobless rate above levels seen earlier in the recovery phase, underscoring ongoing challenges in fully absorbing workers into the labour market.

Analysts and policymakers will be watching subsequent releases closely to determine whether the September uptick is a temporary fluctuation or an early sign of a more persistent cooling in employment momentum across the country.