Despite the job losses, Canada’s unemployment rate in August remained steady at 6.4%, following three consecutive monthly declines from May through July. The unemployment rate is lower in comparison to August 2025, when it stood at 7.1%.
Meanwhile, the employment rate in Canada—the proportion of the population aged 15 and older who are employed—decreased slightly, from 60.9% to 60.8%.
Canada “does not currently have an unemployment problem,” says Steinberg, reflecting on the data.
“Broadly speaking, the labor market in Canada is doing just fine. The unemployment rate is relatively stable,” he adds. “Trump is [also] ranting about immigration as…
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