Canada’s unemployment rate fell to 6.5% in November, the lowest in 16 months, due to a significant cool-down in population growth and the labor force. The economy added an unexpected 54,000 jobs, primarily in the private sector and among young people, though most of these gains were part-time. Alberta saw the largest employment gains, with several other provinces also contributing. Strong job growth coupled with increasing average hourly wages and recent economic data suggest the Bank of Canada is unlikely to cut interest rates anytime soon.
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Due to the 43-day federal government shutdown, the Labor Department will not release a complete jobs report for October. The department was unable to calculate the unemployment rate and other key numbers because of the shutdown. However, it will release the number of jobs created in October alongside the full November jobs report, which is now scheduled for December 16th. The September jobs report, which will be released Friday, will likely receive extra attention as it is the last full measurement of hiring and unemployment that Federal Reserve policymakers will see before their meeting in December.
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In October, the Canadian economy added a surprising 67,000 jobs, causing the unemployment rate to fall to 6.9%. While much of the job growth was in part-time positions, there were notable gains in wholesale and retail trade. Though the jobless rate decreased, it remained elevated and concentrated in specific sectors, signaling a labor market still recovering. Economists predict that the Bank of Canada will likely pause on rate cuts in December due to this data, and continued slow growth in employment overall.
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The August jobs report revealed the weakest labor-market gain in five years, with the unemployment rate rising and long-term unemployment reaching its highest level in nearly a decade. A particularly concerning trend is the rise in Black unemployment, which has disproportionately impacted Black Americans, with unemployment reaching its worst levels since 2021. This downturn is linked to government firings, DEI rollbacks, and specific sector declines, especially in trade, transportation, and manufacturing. Historically, the economic struggles of Black workers often foreshadow broader economic issues, making the current situation a cause for alarm and potential further negative impacts on the economy.
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Greece’s unemployment rate fell to 8.3 percent in April 2025, a significant decrease from 10.8 percent the previous year, marking the lowest rate in 17 years. This achievement surpasses the unemployment rates of Sweden, Estonia, Finland, and Spain. The reduction is attributed to ongoing government policies aimed at boosting employment and encouraging the return of Greek expatriates. Further efforts include a “Career Day” in Stuttgart, offering over 1,000 Greek job opportunities.
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John Q. Hosedrinker