Some economists say Canada's labour market is weakening but not collapsing as Statistics Canada reports job growth has stalled since the start of the year.

Canada's unemployment rate reached 7%, the highest level since 2016, indicating increased difficulties for job seekers and marking three consecutive months of rising unemployment. Core-aged men are particularly affected as job losses mount.

Uncertainty prevails for business and households in Canada, and surveys indicate companies plan to scale back investment and have dropped hiring plans.