Waterloo Region unemployment rate at 8.6%; higher than national average
Posted Mar 13, 2026 04:00:04 AM.
Last Updated Mar 13, 2026 09:30:01 AM.
Statistics Canada says employment came in sharply lower than expected in February as a surprise drop of 84,000 jobs pushed the national unemployment rate up two ticks to 6.7 per cent.
In Waterloo Region, workers are feeling the brunt of job losses, with an 8.6 per cent unemployment rate for February, up from 8.3 per cent the month prior. Guelph’s unemployment rate was slightly lower at 6.3 per cent, down from 7 per cent in January.
The agency says February’s job losses were concentrated among youth aged 15 to 24 and men between the ages 25 and 54, with decreases coming largely from full-time and private sector work.
Quebec accounted for the bulk of the decline with 57,000 positions lost in February while British Columbia shed 20,000 jobs.
The sharp drop in jobs came after 25,000 positions were lost in January, offsetting some of the employment gains in the economy last fall.
A Reuters poll of economists heading into today’s release expected a slight rise in the unemployment rate but also called for a gain of 10,000 jobs last month.
The wholesale and retail trade sector led February’s losses in the services side of the economy, though goods-producing sectors like construction and manufacturing also shed positions.
