The unemployment rate in Canada increased to 8.2 percent in May of 2021 from 8.1 in the previous month, in line with market expectations. Employment fell by 68,000 (-0.4%), with almost all of the decline in part-time work (-54,000; -1.6%). The unemployment rate among visible minority Canadians aged 15 to 69 rose 1.5 percentage points to 11.4% (not seasonally adjusted). Long-term unemployment, the number of people unemployed for 27 weeks or more, held relatively steady at 478,000. The labor force participation rate decreased to 64.6 percent from 64.9 percent in the previous month, the lowest since August 2020. Meantime, the youth unemployment rate fell to 15.9 percent in May from 16.1 percent in the previous month. source: Statistics Canada
Unemployment Rate in Canada averaged 7.65 percent from 1966 until 2021, 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 June of 2021.
Unemployment Rate in Canada is expected to be 7.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Canada to stand at 7.10 in 12 months time. In the long-term, the Canada Unemployment Rate is projected to trend around 6.50 percent in 2022 and 6.20 percent in 2023, according to our econometric models.