Canada added 87,800 jobs in May, crushing forecasts of 10,000. Unemployment fell to 6.6%, dimming Bank of Canada rate cut hopes and pressuring risk assets.

OTTAWA - Statistics Canada is expected to release its labour market report for the month of May this morning.

Canada unemployment rate fell to 6.6% in May as the economy added 88,000 jobs, the first major employment gain since November 2025. Read on

US unemployment holds steady at 4.3% with job growth exceeding expectations. Rate cut in 2026 at 6.5% YES.