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Ontario’s unemployment rate was at 7.5 per cent last month, “the first significant decline in the province since December 2023,” Statistics Canada noted.

“Employment losses were concentrated in information, culture and recreation and in business, building and other support services,” the federal agency noted in a news release.

The agency is keeping an eye on Canada’s economic circumstances in the wake of tariffs imposed by the United States, noting more job losses could be coming.

“During periods of economic downturns, workers may become more likely to be laid off, which can increase the overall unemployment rate,” Statistics Canada said. “For example, during the 2008/2009 recession, the monthly layoff rate — the proportion of the employed population in a given month who were unemployed the following month due to a layoff — peaked at 2 per cent in January 2009.”

Back then, the unemployment rate in Canada rose from 6.2 per cent in August 2008 to a peak of 8.8 per cent in June and July 2009.

“Over the coming months, Statistics Canada will continue to monitor and report on a range of labour market indicators to shed light on how Canada’s labour market is evolving in the context of uncertain economic conditions.”

Across Canada last month, there were 1.5 million unemployed people. Close to half of them, 44.1 per cent, had lost their job due to a layoff within the previous 12 months. Jobs impacted included construction, wholesale or retail trade.

A recent Bank of Canada survey showed most Canadians believe we are headed toward a recession.

The central bank’s quarterly showed 67 per cent of consumers are anticipating a recession — a significant jump from 47 per cent in the previous quarter.

The survey showed many workers in fields highly dependent on trade are worried about losing their job.

“In this context, consumers have also become more pessimistic about their financial health,” the survey report noted. “Consumers showed signs of cautiousness about their spending decisions in the context of growing pessimism about their job security and financial health.”