In January 2026, Canada experienced a surprising loss of 24,800 jobs, contrary to analysts' expectations of a 7,000 job increase. Despite this job loss, the unemployment rate fell to 6.5%, the lowest since September 2024, as reported by Statistics Canada and highlighted in sources like the Daily Times and Business Recorder. This paradoxical situation is attributed to a significant number of Canadians, nearly 100,000 according to NowMedia Group, ceasing their job search, which effectively reduced the labor force participation rate. Full-time employment saw an increase of 44,900 jobs, while part-time positions declined sharply by 69,700, as noted by the Business Recorder and CBC News.
ECONOMY
Canada Loses 24,800 Jobs but Unemployment Rate Falls
Canada lost 24,800 jobs in Jan 2026, defying forecasts. Unemployment fell to 6.5% as 100,000 stopped job hunting. Manufacturing hit hard; full-time jobs rose, part-time fell. Economic concerns grow.
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Updated 1 day agoBR