Canada’s unemployment rate came in at 6.7% for October 2026, the data released on 6 November 2026 showed. The figure was above the market forecast of 6.5% and higher than the previous period’s reading of 6.5%.
What the figure measures
The unemployment rate shows the share of people in the labour force who are looking for work but do not have a job. A higher reading means a larger share of those seeking work were unable to find it during the reference period. The rate is one of the most closely watched gauges of labour market health.
Against the forecast, the reading was 0.2 percentage points higher. Against the previous period, it rose by the same amount, from 6.5% to 6.7%. Both comparisons point the same way, so the figure was both above expectations and higher than the prior reading.
Context
In markets the same day, the US unemployment rate stood at 4.2% for September 2026, a separate monthly reading covering a different period and a different country.
Related: US Unemployment Rate Falls to 4.1% in October · France Inflation Rate Rises to 3.4% in October
Data: FRED — St. Louis Fed
