Employment declined by 33,000 positions, the first decrease since January 2022, pushing the jobless rate to 6.7 per cent, which was the first increase since November, Statistics Canada reported. Men aged 55 and older absorbed a disproportionate blow from the initial shock from U.S. President Donald Trump’s economic war. (The Logic)

Talking point: The first labour force survey since the U.S. and Canada engaged in tit-for-tat tariffs previews what’s to come as Trump escalates his attack on the postwar trading system. Most of the job losses were in Alberta and Ontario, where the energy and automobile industries, respectively, rely heavily on U.S. customers. Yet, wholesalers, retailers and employers in cultural industries did most of the firing, showing how harm to exports ripples throughout the economy. One piece of good news: average hourly wage increased 3.6 per cent from a year earlier, the 25th consecutive month that wage growth exceeded inflation.