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yesterday

Canada Jobless Rate Hits 7.1% as Economy Sheds 66,000 Jobs in August

The weak report has traders increasingly expecting the Bank of Canada to lower interest rates next week.

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A community-wide job fair was held at the Sudbury Community Arena in Sudbury, Ont. on Wednesday May 7, 2025. The fair was a partnership between seven local employment service providers. A total of 86 employers were on hand.
Alberta's unemployment rate in August was 8.4 per cent, with the biggest declines in employment in manufacturing, wholesale and retail trade, according to the latest numbers from Statistics Canada.

Overview

  • Part-time positions fell by 60,000 and full-time by 6,000, with the decline concentrated in part-time work.
  • Employment contracted in professional, scientific and technical services (-26,000), transportation and warehousing (-23,000), and manufacturing (-19,000), while construction added 17,000 jobs.
  • Ontario led monthly losses with 26,000 fewer jobs, Alberta’s unemployment rose to 8.4%, New Brunswick hit 7.7%, and Windsor recorded 11.1% using city three‑month averages.
  • Economists link the deterioration to U.S. tariffs and weaker growth, and markets have raised the probability of a BoC rate cut on Sept. 17 pending the Sept. 16 inflation data.
  • Average hourly wages rose 3.2% year over year, total hours worked edged up slightly, and a 31,000 drop in the labour force limited an even larger rise in the jobless rate.