Canadian economy lost 4,700 jobs in October as unemployment rate ticked up to 6.7%

The Bureau of Labor Statistics released its October report on Friday, showing that the number of workers employed in truck transportation remained unchanged from September. This stability is unusual, as it is the first time since early 2023 that truck transportation jobs increased year-over-year. Two factors contributed to the unchanged numbers: the BLS revised down its initial September figure from 1,473,100 to 1,471,300, and the October estimate matched the revised September figure.

Over the past decade, this is the first instance of month-to-month parity in truck transportation jobs following revisions. However, this stability may not persist, as the September figure could still be revised once more before the January full-year revisions and October could be revised twice more. Warehouse employment also showed minimal change, with only a 300 job decrease from September.

The lack of significant movement in logistics jobs is not limited to truck transportation; warehouse employment also experienced only a 300 job decrease. However, warehouse figures are typically more volatile than truck transportation jobs. Warehouse jobs were revised upward significantly, from 1,831,800 in September to 1,839,700 in the latest revision.

The October 2025 figure was 1,839,900 jobs, a mere 700 jobs more than October 2026. In the truck transportation sector, specific subcategories also exhibited little change. Truckload jobs fell 500 jobs in September from August, amounting to 502,800 jobs, which is just 1,500 jobs more than a year ago. LTL jobs increased by 2,200 jobs in September compared to a year ago, but this gain was substantial compared to the February low of 243,600 jobs.

Over the past decade, LTL jobs have only added 2,100 jobs. Professor Jason Miller, a supply chain management expert, interprets these relatively flat numbers as an indication that capacity is increasing only slowly. However, he anticipates further downward revisions in truckload employment figures upon the release of full-year revisions in February.

Miller believes that establishments responding to BLS surveys are not witnessing further declines in capacity, suggesting that capacity among reporting establishments has halted its downward trend and is effectively stagnant.