An electric toaster with a safety shut-off mechanism includes a carriage bracket with a user-manipulated knob that is movable between an upper rest position and a lower actuation position. A food support member is supported by the carriage bracket between the upper rest position and a lower toasting position. An electromagnet is connected to one of the chassis and the carriage bracket for holding the carriage bracket in the actuation position when the electromagnet is energized. A switch is movable to a closed position upon downward movement of the carriage bracket to the actuation position to energize the electromagnet and heating elements associated with the toaster. The carriage bracket is upwardly movable upon deenergization of the electromagnet to open the switch between the actuation position and the lower toasting position to deenergize the heating elements. With this arrangement, the heating elements are deenergized while the food support member is in the lower toasting position to thereby prevent further operation of the heating elements in the event of a food jam.