FX.co ★ Canada’s Jobless Rate Edges Up to 6.7% in October, Signalling Softer Labour Market

Canada’s unemployment rate rose to 6.7% in October 2026, up from 6.5% in September, pointing to a gradual cooling in the labour market. The latest figure, released on 06 November 2026, marks a continuation of the upward trend that has emerged in recent months.

The increase from September’s 6.5% suggests that job creation is no longer keeping pace with labour force growth, as more Canadians either lost work or found it harder to secure new positions in October. While the rise of 0.2 percentage points is modest, it reinforces signs that economic momentum is easing.

With the October uptick, policymakers and investors will be watching upcoming labour releases closely for confirmation of whether this is the start of a more sustained softening in employment conditions, or a temporary setback amid broader economic adjustment.