09/15/2026
📉 Canadian Labour Market Recap – August 2026 🇨🇦
Canada’s labour market lost some momentum in August.
➡️ Employment Change: Employment decreased by 42,000 jobs (-0.2%), falling well short of expectations for a gain. The decline was concentrated in full-time work, which fell by 36,000.
➡️ Unemployment Rate: The unemployment rate held steady at 6.4%, remaining at its lowest level since 2024 after three consecutive monthly declines.
➡️ Sector Highlights: Employment declined in business, building and other support services (-20,000), public administration (-8,800), natural resources (-7,700) and utilities (-5,600). Manufacturing (+22,000) was the only industry to record a significant increase.
➡️ Wage Growth: Average hourly wages increased 2.0% year-over-year, slowing from 2.8% in July and marking the second consecutive month of decelerating wage growth. Excluding the pandemic-related effects of 2021, this was the slowest pace of wage growth since November 2017.
Stay informed with the latest trends to navigate your career or business strategies effectively! 🚀
Sources:
Reuters
TD Economics
Statistics Canada