A World Cup Effect? Surprise Rebound in Canadian and U.S. Jobs

Published Thursday, June 11, 2026 · Rates, market figures and outlooks in this article reflect its publication date and may differ today. Ask us for the latest picture. Translated from the Korean original.

May employment numbers in Canada and the U.S. came in well above expectations, surprising the market. However, economists suggest this job growth may have been influenced by temporary hiring ahead of the 2026 FIFA World Cup.

Key Points

• Canada added 87,800 jobs in May
• The U.S. also posted job gains well above expectations
• Hiring concentrated in hotels, restaurants, tourism and services
• Influenced by higher short-term labour demand tied to World Cup preparations
• Some experts say "the employment momentum may be temporary"

What It Means

This jobs report showed that the Canadian economy is more resilient than expected, but the background deserves a closer look. Many of the new jobs were concentrated in tourism, accommodation and leisure, so special demand ahead of the World Cup may have been a factor. Rather than concluding from this strong jobs report alone that the economy is recovering, it seems important to see whether the trend in the job market continues over the coming months. In addition, stronger-than-expected employment data may, in the short term, lower expectations for further rate cuts by the Bank of Canada.