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Canada Loses 84,000 Jobs, Unemployment Rate Hits 6.7%

3/14/2026

50 11 Full Breakdown

Summary

Story summary

Statistics Canada reported Canada lost 84,000 jobs in February, raising the unemployment rate to 6.7%.
There were 108,000 full-time job losses, making February the largest monthly drop since January 2022.
The wholesale and retail trade sector shed 18,000 jobs.
Youth unemployment rose to 14.1%, up 1.3 percentage points.
Prime Minister Mark Carney attributed the losses to U.S. trade uncertainties, while economists described the report as "brutal."

History

Historical Context

Canada's economy faced significant challenges during the 2008 financial crisis, with unemployment peaking at 8.7% in 2009. In response, Prime Minister Stephen Harper's government introduced CAD 40 billion in stimulus measures. Fast forward to February 2023, the nation experienced another setback, losing 84,000 jobs and raising unemployment to 6.7%, underscoring ongoing vulnerabilities amid trade uncertainties with the U.S.

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Story summary

Statistics Canada reported Canada lost 84,000 jobs in February, raising the unemployment rate to 6.7%.
There were 108,000 full-time job losses, making February the largest monthly drop since January 2022.
The wholesale and retail trade sector shed 18,000 jobs.
Youth unemployment rose to 14.1%, up 1.3 percentage points.
Prime Minister Mark Carney attributed the losses to U.S. trade uncertainties, while economists described the report as "brutal."

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