Labour market cools in Q4: StatCan

By Jim Wilson
30 Jan. 2026

The Canadian labour market cooled in late 2025, according to a new report.

Payroll employment in Canada declined in November 2025 while job vacancies continued to fall, reports Statistics Canada (StatCan).

The number of employees receiving pay and benefits from their employer decreased by 26,200 (‑0.1%) in November, following an increase of 11,900 (+0.1%) in October. On a year‑over‑year basis, payroll employment was up by 48,300 (+0.3%).

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Payroll employment, earnings and hours, and job vacancies, November 2025

Released: 2026-01-29

The number of employees receiving pay and benefits from their employer—measured as "payroll employment" in the Survey of Employment, Payrolls and Hours—decreased by 26,200 (-0.1%) in November, following an increase of 11,900 (+0.1%) in October. On a year-over-year basis, payroll employment was up by 48,300 (+0.3%) in November.

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Monthly payroll employment declines were recorded in 10 of the 20 sectors in November, including retail trade (-4,700; -0.2%), manufacturing (-4,200; -0.3%), accommodation and food services (-3,600; -0.3%) and arts, entertainment and recreation (-2,700; -0.8%). The losses were partially offset by an increase in health care and social assistance (+2,000; +0.1%).

Meanwhile, there were 472,100 vacant positions in Canada in November, little changed from October, when a decrease of 18,800 (-3.9%) was observed. On a year-over-year basis, job vacancies were down by 67,200 (-12.5%) in November 2025.

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