The unemployment rate in Canada fell to a new pandemic-low of 5.9% in December of 2021 from 6% in November, below market expectations of 6% and within 0.2 percentage points from the jobless rate recorded in February of 2020. It was the seventh straight month of declines, despite a surge in coronavirus cases amid the spread of the Omicron variant. Unemployed population shrank by 31,500 (-2.5% to 1,212,300), while the employed population increased by 54,700 (+0.3% to 19,371,000), far above market forecasts of a 27,500 addition. Meanwhile, the number of people in the labor force increased by was held steady from last month at 65.3%, a record-high for the core-aged population. source: Statistics Canada
Unemployment Rate in Canada averaged 7.64 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 January of 2022.
Unemployment Rate in Canada is expected to be 6.40 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 6.20 percent in 2023, according to our econometric models.