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Canada's unemployment rate remains at 6.4% as economy sees broad-based declines

The Canadian economy shed 42,000 jobs, but the unemployment rate remained unchanged at 6.4 per cent in August after it declined by a total of 0.5 percentage points in May, June and July.

Employment declines were spread across several industries, including the public sector, natural resources , utilities and business, building and other support services.

Manufacturing was the only sector to record significant employment gains in August, adding around 22,000 jobs, or a 1.2 per cent increase month to month. However, employment in this sector didn’t change much year over year, as August’s increase offset decreases seen earlier in 2026.

On a year-over-year basis, the economy gained around 217,000 jobs in August, or a one per cent increase. The majority of that growth was concentrated in health care and social assistance, information, culture and recreation, and transportation and warehousing.

More to come…