FX.co ★ Canada’s Labour Market Shows Signs of Stabilization as Job Losses Ease in October

Canada’s employment picture improved slightly in October 2026, as the pace of job losses slowed compared to the previous month. According to the latest data updated on 6 November 2026, employment fell by 4.7K in October, a marked moderation from September’s sharp decline of 68.3K.

While the labour market remains under pressure, the significantly smaller drop suggests that the worst of the recent employment contraction may be easing. The October figure indicates that, although employers are still cutting positions, the scale of reductions has narrowed notably within just one month.

Market participants and policymakers are likely to view the October data as a tentative sign of stabilization rather than a clear turnaround. Further monthly releases will be closely watched to determine whether Canada’s job market can transition from moderating losses to a sustained phase of renewed hiring.