FX.co ★ Canadian Employment Unexpectedly Falls in October

Canadian employment declined by 4,700 in October 2026, a notable improvement from the sharp loss of 68,300 jobs in September but below expectations for a gain of 13,600. Private-sector employment fell by 53,000 (-0.4%), its first decrease since February, while public-sector employment increased by 50,000 (+1.1%). By industry, wholesale and retail trade recorded a loss of 29,000 jobs (-1.0%), whereas construction added 16,000 positions (+0.9%) and educational services expanded by 15,000 jobs (+1.0%).

Regionally, employment declined in Alberta (-24,000; -0.9%) and Prince Edward Island (-1,300; -1.3%), but rose in British Columbia (+12,000; +0.4%) and Newfoundland and Labrador (+2,900; +1.2%). On a year-over-year basis, total employment was virtually unchanged, up by just 17,000 (+0.1%). The employment rate edged down 0.1 percentage points to 60.5%, its third consecutive monthly decrease.