Stats Can jobs report, business agility, & process-driven learning.

About this edition

Illuminating possibilities.

In this edition, we unpack a recent turning point for the Canadian economy. We’re moving away from traditional models of U.S. reliance and rapid population growth, and business leaders are running head-first into a new reality defined by trade wars, an aging workforce, and different kind of job market.

This week’s SMB Pulse zeroes in on these slow, messy, and permanent changes. From the latest Stats Can labour data and Bank of Canada press report to a complimentary resource provided by our very own Customer Success department, this edition is designed to get you on your feet and ready for what’s next.

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Stats Can employment data

Full-time job growth amidst a tightening talent pool.

Canada lost 25,000 jobs, as shown in the recently published Labour Force Survey for January 2026. Despite the headline, economists say the numbers are far more promising for employers, with a sliver lining for job seekers.

Unemployment: Unemployment rate fell by 0.3% in January, bringing the total unemployment rate down to 6.5%, the lowest it’s been since September 2024. However, this wasn’t caused directly by a rising employment rate: 94,000 job seekers have stopped looking for work altogether, driven by the tough job market, recent layoffs from industries impacted by U.S. tariffs and AI, and people upskilling through formal education.

Full-time vs. part-time: Although the nation experienced a decline in jobs, the division of labour between full-time and part-time work improved: while 70,000 part-time jobs were lost, 45,000 full-time positions were added to the market. An increase in full-time jobs is positive overall: employers are signalling they have enough ongoing work and confidence in future demand to justify higher fixed labour costs.

Manufacturing: Manufacturing companies are being hit the hardest by the ongoing U.S. trade tensions. In January 2026 alone, manufacturing saw a decline of 28,000 jobs — over the year, 51,000 jobs were lost in total. The industry will unlikely see growth until the CUSMA renegotiations take place in the latter part of the year.

Insight: As mentioned in our previous edition of the SMB Pulse, we’re currently in a favourable window to hire — especially for employers looking to upgrade their talent pool and convert strong candidates into full-time roles. Even so, there’s a nuance: the active talent pool is getting smaller, not larger, making the recruitment process more competitive.

If your business is operationally stable and driving revenue, now’s not the time to lowball offers.

At Spraggs Group, we offer subscription-based senior HR consulting through our Vistera package. If you want your business to remain competitive during these trying times, learn more about Vistera’s HR consulting today.

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The new Canadian reality

Agility and technological investment are no longer optional.

Recent weeks have showcased that Canada is moving from an old model — reliance on the U.S., fast population growth, and modest tech — to a new one defined by national protectionism, an aging workforce, and AI. This shift will be slow, messy, and permanent, said Governor of the Bank of Canada, Tim Macklem.

For businesses, the message is blunt: waiting for tariffs to disappear or for pre-AI business models to come back is a losing strategy. Policy rates are on hold around 2.25%, inflation is near target, and growth is modest, which gives business leaders time to act.

Insight: To succeed in the coming years, businesses have to take on a new mindset. We suggest becoming a proponent of innovation and embodying creativity and collaboration within your team. Now is the time for your business to be agile and on its feet.

Companies trading exclusively with the U.S. should prioritize diversifying away from single-market dependence. Meanwhile, those looking to weather rapid economic changes should invest in productivity-boosting technology, such as AI, to strengthen both workflows and team performance.

Ultimately, building a malleable business model, capable of adjusting to slower labour-force growth, an aging workforce, and persistent trade friction, will be the primary driver of your business growth.

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Our Customer Success learning model

Sign up to SMB Pulse on our website to unlock the template.

When a project goes sideways, most teams rush to fix the fire and then move on. Our Customer Success department does something different: they run a short, structured Learning Event Inquiry that focuses on turning problems into improvements.

Want the exact question set and template we use? Subscribe to the SMB Pulse to access the Learning Event Inquiry document and start running calmer, more constructive debriefs with your own team.

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