Canada’s labor market shifted in January, with a net loss of 24,800 jobs and the unemployment rate easing to 6.5%, driven by fewer people actively seeking work.

Gains offset the overall downturn in sectors like information, culture and recreation, business, building and other support services, agriculture, and utilities, helping to cushion the monthly drop.

Part-time employment fell by 70,000, while full-time employment rose by 45,000, partially offsetting the aggregate decline and highlighting a mixed employment picture.

Analysts anticipate the Bank of Canada will hold rates steady in the near term as GDP and inflation data ahead of the March policy meeting loom large.

The excerpt does not provide further sector-specific details or revisions; more information was promised with a note that more is to come.

Markets watched cautiously as North American stocks opened higher after a recent AI‑related selloff, with shifts in commodity prices affecting the material sector.

The broader newsletter also covers updates on Peel police projects, federal civil service in-office rules, bail reform progress, a Stellantis‑LG Energy stake move, and a roundup of political perspectives.

Analysts expect the open to reflect caution amid lingering volatility in tech and AI-related sectors, with notable effects on the equity landscape and currency moves.

Economists diverge on January’s read: some see mixed signals that could argue for easing, while others expect policy to stay on hold given cautious overall signals.

Ontario’s premier signaled no public inquiry into the Eglinton Crosstown delays, arguing it would distract from other projects, even as the line nears its scheduled opening.

The report’s timing notes that the data came out on a Friday, with CBC’s Jenna Benchetrit as the reporting author.

The story carries an updated tag, indicating ongoing coverage of labour market developments.