Canada’s job market stumbles as nearly 84,000 jobs vanish, raising alarm for 2026 economy

Canada’s labour market suffered a sharp setback in February, with employers cutting 83,900 jobs, the steepest monthly drop since 2009 outside the pandemic period. The unemployment rate rose to 6.7%, while full-time positions saw the biggest losses. The unexpected downturn has clouded the economic outlook and could influence upcoming interest-rate decisions by the Bank of Canada.