Big employers are the only ones hiring, and that’s a big problem

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Establishments with more than 500 employees have created 592,000 net new jobs so far in 2025, while smaller establishments shed more than 300,000 positions.

For an economy squarely in the tariff crosshairs of its largest trading partner, Canada has boasted a surprisingly strong job market over the last two months. One thing appears to be driving it: hiring by large employers.

Since the start of the year, establishments with more than 500 employees have created 592,000 net new jobs, while smaller establishments shed more than 300,000 positions.

In September and October, that trend helped the labour market add roughly 127,000 jobs, pushing the unemployment rate down to 6.9 per cent from 7.1 per cent.

The widening gap between big and small employers reflects the strain on Canad