The number of payroll employees in Canada decreased by 60,200 in February 2026, marking a 0.3% decline that followed a modest gain in January. Despite the employment losses, average weekly earnings grew by 1.4% month-over-month to reach $1,338.24, representing a 3.4% increase compared to the previous year. Meanwhile, job vacancies remained relatively stable at 497,200, though they have decreased by 5.5% on a year-over-year basis. The unemployment-to-job vacancy ratio edged up slightly to 3.1, indicating a softening labour market as more unemployed individuals compete for available positions.