Why Canada's jobs market is more resilient than it looks

About this episode

This episode discusses the resilience of Canada's job market despite apparent softening in labour data.

Softening in Canada’s headline labour market data this year masks a more encouraging underlying story. Job losses remain concentrated in tariff-exposed sectors, layoffs are declining, and hiring is beginning to rebound—all signs of resilience beneath the surface. In this episode of the 10-Minute Take, RBC Economics' Claire Fan and Carrie Freestone discuss: What hidden unemployment means and whether it's rising. How "low hire, low fire" dynamics disproportionately affect younger job seekers. Why labour supply is expected to tighten as hiring demand recovers later in 2026.

People in this episode

Guests: Claire Fan, Carrie Freestone

Topics covered

• Canada jobs market
• labour market resilience
• unemployment
• hiring dynamics
• economic recovery

Keywords

• Canada
• jobs market
• unemployment
• hiring
• labour supply
• economic recovery
• young job seekers

Mentioned in this episode

Organizations: RBC Economics

Places: Canada

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