Canada lost 84,000 jobs in February
Canada’s labour market shed nearly 84,000 jobs in February and unemployment ticked up to 6.7% — the sharpest monthly drop outside the COVID era — with Toronto and B.C. hit especially hard, youth unemployment rising fastest reported. That surge in openings competition matters for new-grad negotiators because hiring is tightening even as high-skill engineering roles remain more resilient than the headline numbers suggest reported.
Statistics Canada reported employment fell by 84,000 in February 2026. www150.statcan.gc.ca Full‑time positions declined by 108,000 and private‑sector employment dropped by 73,000 in the month. www150.statcan.gc.ca Youth employment (ages 15–24) fell by 47,000 and the youth unemployment rate rose to 14.1%. www150.statcan.gc.ca Quebec lost 57,000 jobs and British Columbia shed about 20,000 positions in February, while Ontario’s unemployment rate climbed to 7.6%. www150.statcan.gc.ca Sector detail shows wholesale and retail trade erased 17.9k jobs, other services lost 13.9k, information/culture/recreation lost 12.0k, whereas transportation and warehousing added 10.3k and public administration added 8.1k. www150.statcan.gc.ca Professional, scientific and technical services were essentially flat (‑0.1k), and average hourly wages were up 3.9% year‑over‑year to $37.56, underscoring pockets of resilience in higher‑skill roles even as the headline numbers deteriorated. www150.statcan.gc.ca Economists had been forecasting a gain of about 10,000 jobs heading into the release, making the unexpected 84,000 decline a notable miss versus consensus. money.usnews.com
