{
  "id": 18485439,
  "title": "Canada Unemployment Rate set to hold at 6.5% as hiring recovers",
  "url": "https://urgent.news/2026/11/06/canada-unemployment-rate-set-to-hold-at-6-5-as-hiring-recovers",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T09:53:35.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/canada-unemployment-rate-set-to-hold-at-65-as-hiring-recovers-202611060953"
  },
  "original_language": "en",
  "account": "Statistics Canada is set to release the October Labour Force Survey on Friday at 13:30 GMT, with markets expecting a modest improvement in employment following September's significant drop. The Unemployment Rate will be a key focus, as it could impact the Canadian Dollar (CAD) and the economy's recovery. The Canadian labour market remains uncertain due to US tariffs affecting hiring in trade-sensitive industries. The Royal Bank of Canada (RBC) notes that September's employment decline primarily affected public-sector roles like education and healthcare, rather than industries directly impacted by US tariffs. Early signs suggest that trade restrictions might be slowing the labour market's recovery without causing a broader deterioration. The Bank of Canada (BoC) raised its benchmark interest rate on October 28, the first increase in over three years, and may continue to tighten monetary policy based on economic growth and inflation data. Analysts predict Canada's Unemployment Rate will remain steady at 6.5% in October, with roughly 13.6K jobs added, up from a 68.3K decline in September. RBC anticipates a more substantial increase of 15K jobs and a slight decrease in the Unemployment Rate to 6.4%. Market participants will closely monitor manufacturing employment, full-time positions, wage growth, and the participation rate to determine if the labour market is stabilizing. If the employment report exceeds expectations, it may support the Canadian Dollar, especially if accompanied by lower unemployment and stronger wage growth, indicating further interest rate hikes from the BoC. Conversely, a disappointing report could weaken the Loonie by lowering expectations for additional rate hikes, particularly if job losses persist outside the US-tariffed sectors.",
  "summary": "Statistics Canada will release its October Labour Force Survey on Friday at 13:30 GMT, with markets anticipating a modest recovery in employment following September's sharp decline. The Unemployment Rate will also be closely watched, as the latest figures could influence the Canadian Dollar (CAD).",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}