The Canada Unemployment Rate February 2026 Rises to 6.7%, according to the latest Labour Force Survey released by Statistics Canada on March 13, 2026.
The data showed the Canadian economy lost 83,900 jobs during the month, marking one of the largest monthly employment declines outside the pandemic period. The figures reflect labour market conditions during the reference week containing February 15.
Full details of the report are available from Statistics Canada:
https://www150.statcan.gc.ca/n1/daily-quotidien/260313/dq260313a-eng.htm
Canada Unemployment Rate February 2026 Rises to 6.7% as Labour Market Weakens
Statistics Canada’s Labour Force Survey tracks employment, unemployment and labour force participation across the country each month.
Key highlights from the February report include:
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Employment declined by 83,900 jobs
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The unemployment rate increased to 6.7%
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Full-time employment fell by 108,400 positions
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Most job losses occurred in the private sector
The report showing Canada Unemployment Rate February 2026 Rises to 6.7% indicates the labour market may be cooling after stronger employment gains during late 2025.
Job Losses Spread Across Multiple Industries
Employment declines were recorded across both goods-producing and service sectors.
Private-sector employment accounted for the majority of the losses, while youth unemployment increased during the month.
Economists monitor labour market shifts closely because employment trends can signal broader changes in economic activity and business conditions.
Wage Growth Remains Relatively Strong
Despite the rise in unemployment, wage growth remained firm.
Average hourly wages for permanent employees increased 4.2% compared with a year earlier, indicating wage pressures are still present in the Canadian economy.
Wage growth is closely watched because stronger wages can influence inflation and consumer spending patterns.
Why the Canada Unemployment Rate February 2026 Rises to 6.7% Matters
Labour market data plays an important role in shaping expectations for monetary policy decisions in Canada.
When Canada Unemployment Rate February 2026 Rises to 6.7%, it may indicate slowing economic momentum. However, continued wage growth can complicate the outlook for inflation.
Investors often watch labour market data together with inflation reports when assessing the future path of Bank of Canada interest rates.
Readers can track market expectations for upcoming policy decisions using the BoC Meeting Odds Dashboard:
https://bankofcanadaodds.com/#boc_meeting_dashboard
Key Takeaway
The report showing Canada Unemployment Rate February 2026 Rises to 6.7% reflects a notable decline in employment as the Canadian economy lost 83,900 jobs in February.
While the labour market showed signs of cooling, wage growth remained relatively strong. Upcoming economic data will help determine whether this slowdown continues in the months ahead.
