Canada’s economy lost an estimated 68,000 jobs in September 2026, and the unemployment rate rose to 6.5%. Economists saw the second monthly decline as a warning about labour-market weakness—but not proof that tariffs caused it, a verdict that Canada was in recession, or an automatic reason for the Bank of Canada to change rates. Their broad expectation ahead of the October 28 decision was that the Bank would hold, while watching inflation as well as employment.
What did Statistics Canada report?
Statistics Canada’s Labour Force Survey, released October 9, estimated that employment fell by 68,000, or 0.3%, in September. The unemployment rate increased 0.1 percentage points to 6.5%. The survey’s reference week was September 13–19; the headline is a household-survey estimate, not a tally of announced layoffs.
As an Amazon Associate I earn from qualifying purchases.
It was the second monthly employment decline: employment fell by 42,000 in August. But that followed gains of 181,000 from April through July, and employment remained 95,000 higher than a year earlier. The September result was also weaker than the 9,200-job gain economists were forecast to expect in the Reuters report carried by Investing.com. That forecast was a market expectation, not an official statistic.
The Tool Desk
Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Other measures add context to the headline. The layoff rate was 0.7%, similar to 0.6% a year earlier and the 2017–2019 average. The job-finding rate was 30.6%, down from 32.8% a year earlier and below its 2017–2019 average of 36.5%. Labour-force participation fell to 64.8%, its lowest level since December 1997 when the pandemic period is excluded. Statistics Canada attributed most of the year-over-year participation decline to population aging.
#1 Best Overall
- Compact & Portable Design: This Small Excel, Word, PowerPoint, & Windows Cheat Sheet Mouse Pad measures 11.8" x 9.8", offering a portable mouse pad. Its compact size fits in bags or laptop cases, suitable for professionals, students, or travelers.
- Multi-Software Shortcut Guide: Featuring essential shortcut keys for Excel, Word, PowerPoint, & Windows, this small mouse pad provides a quick reference for frequently used shortcuts, offering a reference designed to support workflow efficiency
- Smooth & Precise Surface: The finely-textured surface ensures precise mouse control, allowing for smooth and accurate movement during work or gaming sessions.
- Durable & Non-Slip Design: This Multi-Software Shortcut Mouse Pad features stitched edges to reduce fraying. The non-slip rubber base helps keep it securely in place, and the water-resistant fabric allows for easier maintenance.
- Clear Print Quality: Displays high-resolution printing intended to remain legible through regular use and cleaning
Average hourly wages were 2.3% higher than a year earlier, up from 2.0% in August. That wage growth, alongside high fuel prices cited by economists, was a counterweight to the case for easing policy quickly.
Where were the losses concentrated?
The aggregate decline was not evenly distributed. Statistics Canada’s Canada-level Labour Force Survey estimates exclude the territories; the figures below are seasonally adjusted.
Rank #2
- [MULTIFUNCTIONAL]You'll get 2 pieces computer monitor memo boards that you can stick on the left and right edges of your monitor, and they're the perfect office desk organizers and accessories. Computer monitor side panels desktop organizer are suitable for home work or office,bringing convenience. Desktop memo is used to organize meeting memos, important messages, business cards, planning notes.Paste on the message board to keep track of important things and to-do items to prevent forgetting.
- [🌟HIGHLY QUALITY] The material of computer screen side note holder is transparent acrylic. Durable, simple, stylish, light weight, easy to use, not easy to fall off or break. This cute office supplies for women desk can be used for a long time. This computer desk accessories is waterproof and dirt resistance, and look simple and stylish. The transparent acrylic sticky note holder as cubicle accessories is easy to notice the context of your sticky notes.
- [📋Easy to use] Office must haves cool office gadgets for desk ready to tear, easy to install and remove, not easy to leave traces. You only need to peel off the protective film on the surface of the computer side board memo, wipe off the dust on the edge of the computer monitor, and then stick the desk essentials for women office on the right or left side of the tape, and you're done. A perfect gift for your colleagues, friends or classmates and family members or relatives
- [🏢MULTI-SCENE USE] This desk supplies computer memo board can be applied to home and office, clear your office decor for women, suitable for most computer monitors, screens and cabinets, you can put it where you think, this cute office decor serve as a reminder. Stick on the computer side. It’s a good office gadgets can remind work improve office productivity. Pasted cabinets, dressers, refrigerators, walls, etc as cubicle accessories. To make life more orderly.
- [💌NOTE] The adhesive force of the computer sticky note holder is very strong. It can not be directly pasted on the computer screen. It should pasted on the black edge of the screen. Narrow edge not recommended!!! If you are not satisfied with your purchase, or if the product is damaged or broken in transit, please let us know immediately. We will promptly solve your problem.
| Group or sector | September change | Additional context |
|---|---|---|
| Youth aged 15–24 | Down 48,000 (1.8%) | Down 67,000 over two months. The youth labour force also shrank by 50,000; the unemployment rate was little changed at 13.0%. |
| Women aged 25–54 | Down 28,000 | The unemployment rate rose 0.3 percentage points to 5.3%. |
| Public sector | Down 70,000 | Fourth consecutive monthly decline. |
| Private sector | Little changed | Employment remained 163,000 higher year over year. |
| Educational services | Down 35,000 | Down 67,000 (4.2%) year over year; Statistics Canada linked much of the annual decline to Quebec, Ontario and Alberta. |
| Health care and social assistance | Down 23,000 | Up 93,000 (3.2%) year over year, making it the largest contributor to annual employment growth. |
| Manufacturing | Down 13,000 | After an August increase, employment was little changed year over year. |
| Quebec | Down 49,000 | Statistics Canada described employment as trending downward since the start of the year. |
| British Columbia | Down 20,000 | — |
| Alberta | Up 23,000 | — |
The youth decline needs particular care in interpretation: employment fell, but so did the number of young people in the labour force, leaving the youth unemployment rate little changed. RBC senior economist Claire Fan noted that September can bring seasonal headwinds for youth employment as students return to school. Secondary reporting also cited lower international student numbers as a factor in education employment, but the annual decline should not be read as a direct measure of one cause.
Why did economists call the report a warning, not a verdict?
Two declines and weaker job-finding point to softness
Two consecutive monthly declines, a rising overall unemployment rate and a lower job-finding rate are evidence of a labour market that has lost some momentum. TD Economics director and senior economist Andrew Hencic said, “The labour market has now taken a breather for two consecutive months.” He emphasized the unemployment rate and said the report would “pour some more cold water on near-term rate hike expectations for the BoC.” His October hold forecast remained dependent on incoming data.
Rank #3
- Stay Organized with Ease: Our To Do List Notepad provides multiple sections with plenty of space to jot down all of your important tasks.A versatile office supply perfect for daily task management, helping you keep track of everything that needs to be done and prioritize effectively.
- Achieve Your Productivity Goals: Begin each day on a positive note, reminding you of your potential, strength, and the significance of staying focused on your goals. Our Daily Checklist Notepad is the ultimate tool to streamline your daily planning and elevate your productivity. With a clear and concise overview of your tasks, you can effortlessly prioritize what truly matters and make consistent strides towards achieving your goals.
- Reliable and Stylish: Our to do list planner combines functionality with durability. With a transparent PP cover, the inner pages are well-protected from dirt and wear. Additionally, the back cover is crafted with thick paperboard, offering a stable surface for your writing needs. Each notepad includes 52 pages of high-quality, 100gsm paper, which is thick and non-bleeding, resulting in a smooth and enjoyable writing experience.
- Versatile Use: This daily checklist notepad, suitable for teacher supplies and a wide range of applications, proves invaluable in various settings including work, school, and home. Whether you need to organize your daily tasks, plan a project, or create a grocery list, this notepad serves as the ideal tool. Its compact size ensures easy portability, allowing you to conveniently carry it with you throughout your day.
- Perfect Present for Anyone: Our Daily To-Do List Notepad is the perfect present for those who value organization and productivity. With its stylish design and versatility, this office desk accessory is also a practical addition to school supplies. Suitable for students, professionals, and homemakers alike, it helps keep tasks and priorities in check effortlessly.
Monthly estimates and youth seasonality limit what one release can prove
Fan cautioned, “The monthly employment counts are notoriously volatile, and there are reasons not to read too much into the softer reading too quickly.” She pointed to the seasonal timing of youth losses and expected earlier labour-market gains to be largely sustained. The ordinary layoff rate and the preceding April–July employment rebound also argue against treating September as proof of a sudden, generalized collapse.
The report does not establish that tariffs caused the drop
September was described in market reporting as the first full month covered after a new round of U.S. tariffs took effect, but the largest monthly decline was in public-sector employment. The aggregate figures do not identify how many lost jobs, if any, were caused by tariffs. CIBC economist Andrew Grantham judged that “the weakness in today’s employment data is likely more a reflection of data volatility than the impact of new US tariffs.” He nevertheless flagged weak hours worked as a sign of a potentially weak end to third-quarter GDP and a soft handoff into the fourth quarter, with possible further unemployment increases in tariff-affected sectors.
Rank #4
- 【Adjustable & Ergonomic】：This laptop stand can be adjusted to a comfortable height and angle according to your actual needs, letting you fix posture and reduce your neck fatigue, back pain and eye strain. Very comfortable for working in home, office and outdoor.
- 【Sturdy & Protective】 ：Made of sturdy metal, it can support up to 17.6 lbs (8kg) weight on top; With 2 rubber mats on the hook and anti-skid silicone pads on top & bottom, it can secure your laptop in place and maximum protect your device from scratches and sliding. Moreover, smooth edges will never hurt your hands.
- 【Heat Dissipation】 ：The top of the laptop stand is designed with multiple ventilation holes. The open design offers greater ventilation and more airflow to cool your laptop during operation other than it just lays flat on the table.
- 【Portable & Foldable】：The foldable design allows you to easily slip it in your backpack. Ideal for people who travel for business a lot.
- 【Broad Compatibility】：Our desktop book stand is compatible with all laptops from 10-15.6 inches, such as MacBook Air/ Pro, Google Pixelbook, Dell XPS, HP, ASUS, Lenovo ThinkPad, Acer, Chromebook and Microsoft Surface, etc.Be your ideal companion in Home, Office & Outdoor.
What did economists expect the Bank of Canada to do?
In comments reported by Canadian Mortgage Professional on October 9, the economists broadly expected the Bank of Canada to leave its policy rate unchanged at its October 28 decision. That was a forecast made before the decision, not a confirmed outcome. Their shared expectation did not mean the jobs report alone dictated policy: they weighed labour-market weakness against inflation risks and the uncertainty around the data.
Free tools Windows power users keep installed
One-click scans. No signup required.
Servus Credit Union chief economist Charles St-Arnaud described the tension this way: “This adds to the BoC’s dilemma.” He cited an uncertain outlook, a weak labour market and a likely growth slowdown as trade tensions intensified, but also warned that high fuel prices could feed broader inflation. He said the Bank would likely choose patience, expecting the policy rate to remain unchanged for the rest of the year unless consumer price data showed inflation broadening.
Best Value
- Twin-Ball Design : Hiacry gel pen features a double ball conical tip that reduces writing resistance and provides a stable and smooth writing experience. 0.7mm quick drying black ink ensures no jumping, leakage or seepage.
- Quick-Dry Long Lasting Ink：0.7mm black ink can slide effortlessly, dry immediately, & is not easily dirty. It has a high-capacity reservoir (up to 1300 meters), which is very suitable for left-handed & right-handed users.
- Sleek Design for Journaling & Planning: Engineered with a low center of gravity and precision tip for steady ink flow, these journaling pens excel at note-taking, sketching, planning, and more. They combine stylish pens with top-tier performance.
- Rolling Ball Design：The pocket clip with roll ball design can be easily attached to notebook pockets and binders, in addition, the fidget on the pen clip is also a small toy for your daily thinking to relieve stress.
- Comfortable Non-Slip Grip：The ergonomic pen barrel has a soft rubberized coating for a comfortable, non-slip grip, so you won't get fatigued even after long hours of writing.
Dominion Lending Centres chief economist Dr. Sherry Cooper likewise expected the Bank to hold off on a rate hike, “especially if the inflation data released on October 19 brings no nasty surprises.” Cooper also noted that Canadian bond yields were more than 100 basis points below U.S. yields but typically moved in the same direction. These were her observations and forecast as reported October 9; they do not establish what the Bank would decide or how markets would move.
What might the jobs report mean for borrowing costs?
A weak jobs report can affect expectations for the Bank of Canada, but it does not translate mechanically into lower rates on every loan. The policy rate directly matters to variable-rate mortgages and lines of credit. Fixed mortgage rates are driven mainly by bond yields, so a softer employment release alone does not guarantee cheaper fixed borrowing.
For households, the useful distinction is between a forecast and a borrowing decision: economists’ October 9 expectation of a hold was not a promise about the October 28 announcement, future rate changes or an individual borrower’s rate. The next inflation reading was one of the data points they said could alter the Bank’s patience.
How to read the signal
- There is real evidence of cooling: employment declined in both August and September, unemployment rose, and the job-finding rate was lower than a year earlier.
- The headline is not a recession declaration: the two monthly losses followed four months of gains, employment remained above its year-earlier level, and the layoff rate was close to historical comparison levels.
- Tariff effects remain uncertain: the survey shows where employment changed, not why every change occurred; public-sector losses dominated September’s decline.
- Rate policy has competing pressures: labour weakness supports caution about further tightening, while wage growth and fuel-price inflation risk complicating rate cuts.
As of October 11, 2026, the Bank of Canada’s October 28 decision had not yet taken place. The economists’ comments support reading September as a caution signal—not as a conclusive diagnosis of the economy or a reliable stand-alone guide to household borrowing costs.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
