Desjardins Capital macro strategist Royce Mendes said August's drop in Canadian employment may reflect normalization after three months of strong hiring. Canada added 181.1k jobs from May–July, averaging over 60k per month. Mendes said some of the August weakness could be due to Labour Day falling later than usual this year, possibly delaying late‑summer hiring into September.

2026-09-04

Desjardins Capital macro strategist Royce Mendes said August's drop in Canadian employment may reflect normalization after three months of strong hiring. Canada added 181.1k jobs from May–July, averaging over 60k per month. Mendes said some of the August weakness could be due to Labour Day falling later than usual this year, possibly delaying late‑summer hiring into September.