Canada Unemployment Rate Holds as Expected

2026-09-04 12:40 By Andre Joaquim 1 min. read

The unemployment rate in Canada was unchanged from the previous month at 6.4% in August of 2026, aligned with market expectations.

The number of unemployed people rose by 4.8 thousand from the previous month to 1.455 million in the period.

In the meantime, net employment sank by 41.7 thousand to 12.173 million, contrasting sharply with expectations of a 15 thousand increase.

A large portion of the drop in net employment was owed to a 36.8 thousand drop in the labor force, equivalent to a 0.1 percentage point decline in the participation rate to 65%, thus preventing a drop in the unemployment rate.

The unemployment rate rose by 0.2 percentage points to 6%, while unemployment for core-aged women fell 0.2 percentage points to 5%.

The youth unemployment rate rose 0.3 percentage points to 12.9%.



News Stream
Canada Unemployment Rate Holds as Expected
The unemployment rate in Canada was unchanged from the previous month at 6.4% in August of 2026, aligned with market expectations. The number of unemployed people rose by 4.8 thousand from the previous month to 1.455 million in the period. In the meantime, net employment sank by 41.7 thousand to 12.173 million, contrasting sharply with expectations of a 15 thousand increase. A large portion of the drop in net employment was owed to a 36.8 thousand drop in the labor force, equivalent to a 0.1 percentage point decline in the participation rate to 65%, thus preventing a drop in the unemployment rate. The unemployment rate rose by 0.2 percentage points to 6%, while unemployment for core-aged women fell 0.2 percentage points to 5%. The youth unemployment rate rose 0.3 percentage points to 12.9%.
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