Macro EconomyMedium•7 November 2026•
1 min read
Canada Labor Market Weakens for Third Month as Federal Debt Burdens Rise
Key Facts
1The Canadian job market has lost jobs for three consecutive months as of October.
2The Canadian federal budget showed increased longer-term borrowing, raising the debt servicing burden.
The Canadian job market has lost jobs for three consecutive months as of October 2026. ActionForex reported that the Canadian federal budget showed increased longer-term borrowing, which is raising the country's debt servicing burden.
Data released on November 6, 2026, showed the unemployment rate rose to 6.7%, exceeding the forecast of 6.5%. While part-time employment increased by 13.4k, full-time employment fell by 18.1k, resulting in an overall employment change of -4.7k for the month.