Canada’s unemployment rate rises to 6.7% as economy loses 84,000 jobs

By Jane Switzer
The Financial Post
March 13, 2026
Category: Finance & Economics
Region: Canada

Canada’s unemployment rate rose to 6.7% in February as more people looked for work and the economy shed 84,000 jobs, according to the latest report from Statistics Canada, released Friday. The country’s employment rate fell 0.2 percentage points to 60.6%, the second consecutive monthly decline. …Nearly 23% of the 1.5 million people who were unemployed in February were in long-term unemployment and had been continuously searching for work for 27 weeks or more. Statistics Canada said that percentage was little changed from a year ago, but “significantly above” the pre-COVID-19 pandemic average of 17.1% recorded during 2017-19. Economists had been expecting a gain of 10,000 jobs in February but the numbers were “weaker than expected,” said Andrew Hencic, director and senior economist at TD Economics. “Looking forward, we are expecting the labour market to tread water in 2026, as a rapid slowdown in population growth drags on labour supply, and soft economic momentum limits hiring,” he said.

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