In February 2026, Canada's economy shed 83,900 jobs, far below the previously expected gain of 10,000 positions, with the unemployment rate rising to 6.7% as a result. The Bank of Montreal (BMO) chief economist called the result "dismal," pointing out that economic weakness and rising energy costs were the primary factors. It's worth noting that average hourly wages rose by 4.2%, while bilateral negotiations with the United States aimed to mitigate the impact of tariffs.