The unemployment rate in Canada fell to a new pandemic-low of 6.0% in November of 2021 from 6.7% in September, below market expectations of 6.6% and within 0.3 percentage points from the jobless rate recorded in February of 2020. It was the sixth straight month of declines, as Ontario and Quebec lifted more capacity restrictions and distancing requirements in settings where proof of vaccination was already required. The unemployed population shrank by 122,000 (-8.9% to 1,243,800), while the number of employed increased by 153,700 people (+0.8% to 19,316,100) far outstripping market forecasts of a 37,000 addition. Meanwhile, the number of people in the labour force increased by 32,000, (0.2% to 20,560,000) translating to a labour force participation rate of 65.3% in November, unchanged from the previous month. 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 December of 2021.
Unemployment Rate in Canada is expected to be 6.50 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 2022, according to our econometric models.