‘Data for Business’ is an effort of the Langley Chamber, in partnership with the Canadian Chamber’s Business Data Lab, to bring our members reports, stats, and analysis on economic and business data to help inform business and investment decisions. Read our latest update below:

Canada’s labour market showed clear signs of softening in March, with job losses continuing and the unemployment rate rising to 6.7%, pointing to a cooling in hiring momentum. Much of the weakness was driven by declines in full-time and private sector employment, even as some sectors and regions continue to show pockets of resilience. Overall, the data suggests a labour market that is loosening after a stronger finish to 2025, with growing uncertainty for employers and workers alike

In BC, employment declined again in March, down 19,000 jobs following a similar drop in February, pointing to a continued softening in the labour market. The unemployment rate rose to 6.7%, no longer better than the national average and no worst in Western Canada, and marks BC’s highest unemployment level in nearly a decade (outside of the pandemic period of 2020-2021).  The unemployment rate in the Metro Vancouver region specifically was 6.2% in March 2026 (actually down from 6.7% in March 2025).

OTHER KEY TAKEAWAYS

• Employment Levels: Employment rose marginally by 14,000 in March, after cumulative losses of 109,000 in the first two months of the year, indicating a pause, not reversal, in labour market softening. This suggests employers are holding back on hiring while also avoiding significant layoffs. After a year of tariffs on Canadian goods and services, overall employment increased modestly y/y, by 87,000 (+0.4%), indicating labour market resilience to unprecedented economic shocks.
• Demographics and Job Types: Labour market outcome remained stable across various demographic groups, with little to no change in the unemployment rate across men and women across various age groups. However, the recent employments gains has been entirely in part-time jobs and among the youths, suggesting growing reliance on flexible and part-time work arrangements.
• Sectoral Breakdown: Sectoral trends highlight increased part-time hiring in service sectors to meet temporary demands. Employment gains were concentrated in “other services” (+15,000), professional services (+12,000) and natural resources (+10,000).
• Hourly Wages:  Wage growth picked up in March, with average hourly wages rising 4.7% compared to a year ago—the fastest pace since late 2024. Increases were strongest among older workers (55+), while wage growth for younger workers (15–24) remained much lower. Workers aged 25 to 54 saw more moderate gains, roughly in line with the overall average.

Commentary:

"Canadian employers are once again adopting a wait-and-see approach – being cautious not only in hiring but also in layoffs – a strategy that has been used at multiple points over the past year. Overall, in March 2026, employment levels were largely unchanged, and the unemployment rate held steady, underscoring a labour market that is stable but subdued. The only clear bright spot is wage growth, which recorded its strongest pace since 2024.   While employers’ prudence in hiring decisions is helping maintain labour market stability, heightened global uncertainty continues to weigh on momentum. On this backdrop, we expect the Bank to hold its policy rate once again, for a fourth consecutive time, until clearer economic signals begin to emerge."  - Anupriya Gangopadhyay, Economist, Canadian Chamber of Commerce