The unemployment rate in Canada was unchanged at 4.9% in July of 2022, the lowest on record and below market expectations of 5%. The number of unemployed fell by 3,600 workers to 1,003,500, and long-term unemployment fell by 23,000 to 162,000. Still, employment in Canada unexpectedly declined by 30,600 pointing to the second consecutive month of job losses. At the industry level, a decline in the services-producing sector (-0.3% to 15.5 million) more than offset the increase in the goods-producing sector (+0.6% to 4 million). Also, the decrease in the number of employees working in the public sector (-1.2% to 4.3 million) was tempered by a gain among self-employed workers (+1.3% to 2.7 million), while private sector employees showed little change (-0.1% to 12.6 million). As both unemployment and employment fell, the labor force participation rate dropped by 0.1 percentage points to 54.4%. The decline in employment was primarily seen in Ontario and Prince Edward Island. source: Statistics Canada

Unemployment Rate in Canada averaged 7.62 percent from 1966 until 2022, reaching an all time high of 13.70 percent in May of 2020 and a record low of 2.90 percent in June of 1966. This page provides - Canada Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.

Unemployment Rate in Canada is expected to be 5.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Unemployment Rate is projected to trend around 5.50 percent in 2023, according to our econometric models.

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Canada Unemployment Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-07-08 12:30 PM Jun 4.9% 5.1% 5.1% 5.1%
2022-08-05 12:30 PM Jul 4.9% 4.9% 5% 4.9%
2022-09-09 12:30 PM Aug


Related Last Unit Reference
Unemployment Rate 4.90 percent Jul 2022
Employed Persons 19566.50 Thousand Jul 2022
Unemployed Persons 1007.10 Thousand Jul 2022
Part Time Employment -17.50 Thousand Jul 2022
Full Time Employment -13.10 Thousand Jul 2022
Employment Change -30.60 Thousand Jul 2022
Labor Force Participation Rate 64.70 percent Jul 2022
Youth Unemployment Rate 9.20 percent Jul 2022
Labour Costs 124.15 points Mar 2022
Productivity 106.98 points Mar 2022
Wages 28.45 CAD/Hour May 2022
Minimum Wages 15.50 CAD/Hour Oct 2022
Wages in Manufacturing 28.18 CAD/Hour May 2022
Population 38.44 Million Dec 2021
Employment Rate 61.60 percent Jul 2022
Average Hourly Earnings 32.37 CAD Jul 2022
Wage Growth 2.50 percent May 2022
Non Farm Payrolls 17426.00 Thousand May 2022
Job Vacancies 890385.00 Mar 2022

Canada Unemployment Rate
In Canada, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Actual Previous Highest Lowest Dates Unit Frequency
4.90 4.90 13.70 2.90 1966 - 2022 percent Monthly
SA

News Stream
Canada Jobless Rate Remains at Record-Low
The unemployment rate in Canada was unchanged at 4.9% in July of 2022, the lowest on record and below market expectations of 5%. The number of unemployed fell by 3,600 workers to 1,003,500, and long-term unemployment fell by 23,000 to 162,000. Still, employment in Canada unexpectedly declined by 30,600 pointing to the second consecutive month of job losses. At the industry level, a decline in the services-producing sector (-0.3% to 15.5 million) more than offset the increase in the goods-producing sector (+0.6% to 4 million). Also, the decrease in the number of employees working in the public sector (-1.2% to 4.3 million) was tempered by a gain among self-employed workers (+1.3% to 2.7 million), while private sector employees showed little change (-0.1% to 12.6 million). As both unemployment and employment fell, the labor force participation rate dropped by 0.1 percentage points to 54.4%. The decline in employment was primarily seen in Ontario and Prince Edward Island.
2022-08-05
Canada Unemployment at Record Low
The unemployment rate in Canada fell to 4.9% in May of 2022 from 5.1% in the prior month, beating market expectations of 5.1%. It was the lowest rate on record since comparable data became available in 1976, extending the robust recovery for the labor market from the Covid-19 pandemic. The number of unemployed workers fell by 54,000 people (-5.1% to 1,003,500), while the long-term unemployment shrank by 24,000 people (-11.3% to 185,000) and youth unemployment fell by 20,800 people (-7.3% to 264,200). Still, employment in Canada fell by 43,200 (-0.2% to 19,597,100) as nearly 100,000 people voluntarily exited the labor market, signaling that the Canadian job market is close to maximum employment. The decline in in employment was primarily seen in younger and older individuals, concentrated in Newfoundland and Labrador and Quebec. As both employment and unemployment fell, the labor force participation rate fell by 0.4 percentage points to 64.9 percent.
2022-07-08
Canada Unemployment at Fresh Record Low
The unemployment rate in Canada fell to 5.1 percent in May of 2022 from 5.2 percent in April, while analysts expected it to remain unchanged. It was the lowest rate since comparable data became available in 1976. The rate was similar to or below previous all-time lows in four provinces: British Columbia (4.5 percent), New Brunswick (7.1 percent), Prince Edward Island (7.8 percent), and Newfoundland and Labrador (10.0 percent).
2022-06-10