PrintUnemployment Falls in Canada During Trade War With U.S., Says BMO
BY MT Newswires | ECONOMIC | 08:15 AM EST08:15 AM EST, 12/09/2025 (MT Newswires) -- Reflecting the recent improvement in its labor market, Canada's unemployment rate -- comparable with the United States rate methodology and seasonally adjusted -- fell to a more than one-year low of 5.5% in November after hitting 6.1% in August, said Bank of Montreal (BMO).
It's 1.1 percentage points above the U.S. rate of 4.4% in September, which is a somewhat smaller gap than the historical average of 1.2 percentage points, noted the bank.
Finding work is still a little harder in Canada, but the gap in prospects has narrowed despite the trade war with the U.S., stated BMO.
In fact, since January, the number of unemployed people is down 0.9% in Canada but up 11.0% in the U.S. That may be one of the biggest economic surprises of the year, according to the bank.
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