Canada Labour Market Report, February 2026

February Employment Overview

In February, the number of employed individuals dropped by 84,000, representing a 0.4% decrease. The employment rate also slipped by 0.2 percentage points, settling at 60.6%. Meanwhile, the unemployment rate edged up by 0.2 percentage points to reach 6.7%.

Job losses were most pronounced among young people aged 15 to 24, who saw employment fall by 47,000 (a 1.7% decline), and among men aged 25 to 54, whose employment numbers decreased by 41,000 (down 0.6%). Employment levels for women in the core working age group and for those aged 55 and above remained relatively stable.

Both the services sector and goods-producing industries experienced employment declines, with the services sector losing 56,000 jobs (down 0.3%) and goods-producing industries shedding 28,000 positions (a 0.7% drop). The most significant reductions occurred in wholesale and retail trade, which lost 18,000 jobs (down 0.6%).