Canada September employment change -68.3K vs +9.2K expected
USD/CAD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Bank of America | Bullish | 1.35 |
Rabobank | Bullish | 1.36 |
Citi | Bearish | 1.43 |
All 23 desk targets for USD/CAD
From the original
Prior was -41.7K Details for the month of September: Employment change: -68.3K vs +9.2K expected; prior -41.7K Unemployment rate: 6.5% vs 6.5% expected; prior 6.4% Full-time employment change: -35.4K vs prior -35.9K Part-time employment change: -32.9K vs prior +5.8K Participation
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4 itemsCanada June employment report shows +18.2K jobs vs +10K expected
Canada Net Change in Employment came in at 18.2K, above forecasts (10K) in June - TMGM
Data Flash: Canadian labour market data bounced back in May
The Canadian labour market exhibited a robust recovery in May, with an employment increase of 88,000 and a decline in the unemployment rate to 6.6%, according to RBC Economics. This uptick provides a welcome contrast to recent soft GDP data, suggesting resilience in the Canadian economy despite potential challenges ahead. Per the full note, the substantial rise in full-time positions (up 154k) underscores positive underlying trends, even as the retail sector struggles. With trade uncertainties and rising energy prices lurking as headwinds, the desk believes sustained improvements in labour conditions could signal gradual economic stabilization as 2026 progresses.
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