# Canada Unemployment Rate Climbed to 6.7% in October as Employment Fell by 4.7K

> Canada’s unemployment rate rose to 6.7% in October from 6.5% in September, above the 6.5% forecast. Employment fell by 4,700, contrary to expectations for a gain of 13,600, while the report noted continued weakness in the labor market and uncertainty related to US tariffs.

- Date: 2026-11-06 · published 2026-11-07T03:11:34.403Z
- Category: macro · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/85430-canada-unemployment-rate-climbed-to-6-7-in-october-as-employment-fell-by-4-7k
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

The weaker labor data may make the Bank of Canada more cautious about further rate hikes, weighing on the Canadian dollar and potentially raising the cost of Canadian imports priced in US dollars.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- fxstreet.com: https://www.fxstreet.com/news/canada-unemployment-rate-set-to-hold-at-65-as-hiring-recovers-202611060953

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.