The unemployment rate in Canada declined for the second consecutive month in March of 2021, falling 0.7 percentage points to 7.5 percent, the lowest since February 2020 and well below market expectations of 8 percent. This reflected strong employment growth that exceeded the number of people entering the labour market. The number of people unemployed fell 148,000 (-8.9%) in March, with the majority (59.0%) of people leaving unemployment becoming employed. Despite sharp reductions in both February and March, the number of people unemployed stood at 1.5 million, up 371,000 (+32.4%) compared with February 2020. Looking ahead, restrictions have been tightened in a number of jurisdictions across Canada, including in British Columbia, Quebec and Ontario, where "circuit breaker" lockdowns of various degrees have been implemented in recent weeks and are likely to impact the next labour market release on May 7th. 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 May of 2021.

Unemployment Rate in Canada is expected to be 8.00 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 6.70 percent in 2022 and 6.20 percent in 2023, according to our econometric models.

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Canada Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.50 8.20 13.70 2.90 1966 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-01-08 01:30 PM Dec 8.6% 8.5% 8.6% 8.5%
2021-02-05 01:30 PM Jan 9.4% 8.8% 8.9% 8.7%
2021-03-12 01:30 PM Feb 8.2% 9.4% 9.2% 9.4%
2021-04-09 12:30 PM Mar 7.5% 8.2% 8% 8%
2021-05-07 12:30 PM Apr 7.5% 7.8% 7.8%
2021-06-04 12:30 PM May
2021-07-09 12:30 PM Jun
2021-08-06 12:30 PM Jul


News Stream
Canada Jobless Rate Falls More than Expected
The unemployment rate in Canada declined for the second consecutive month in March of 2021, falling 0.7 percentage points to 7.5 percent, the lowest since February 2020 and well below market expectations of 8 percent. This reflected strong employment growth that exceeded the number of people entering the labour market. The number of people unemployed fell 148,000 (-8.9%) in March, with the majority (59.0%) of people leaving unemployment becoming employed. Despite sharp reductions in both February and March, the number of people unemployed stood at 1.5 million, up 371,000 (+32.4%) compared with February 2020. Looking ahead, restrictions have been tightened in a number of jurisdictions across Canada, including in British Columbia, Quebec and Ontario, where "circuit breaker" lockdowns of various degrees have been implemented in recent weeks and are likely to impact the next labour market release on May 7th.
2021-04-09
Canada Jobless Rate at 11-Month Low
The unemployment rate in Canada fell to 8.2 percent in February of 2021, the lowest since March 2020 and following 9.4 percent in January. Figures came much lower than market forecasts of 9.2 percent as public health restrictions put in place in late December were eased in many provinces, allowing for the re-opening of many non-essential businesses, cultural and recreational facilities, and some in-person dining. The number of long-term unemployed fell by 49,000 (-9.7 percent) from a record high of 512,000 in January.
2021-03-12
Canada Jobless Rate Rises to 5-Month High
The unemployment rate in Canada rose 0.6 percentage points to 9.4 percent in January 2021, the highest since August 2020. Meanwhile, the economy shed 213 thousand jobs, well above market forecasts of a 47.5 thousand decline due to part-time work (-225 thousand). The labour force participation rate, defined as the percentage of the population aged 15 and older who are employed or unemployed, fell 0.3 percentage points in January to 64.7%, the lowest rate since August 2020. The youth unemployment rate climbed to 19.7 percent from 17.8 percent in the previous month, the highest since August.
2021-02-05
Canada Jobless Rate Rises to 8.6% in December
The unemployment rate in Canada increased to 8.6 percent in December of 2020 from 8.5 percent in the previous month, in line with market expectations. The economy shed 62.6 thousand jobs, above forecasts of a 27.5 thousand drop as part-time employment was down by 99 thousand while full-time employment rose by 36.5 thousand. The labour force participation rate decreased to 64.9 percent from 65.1 percent in the prior month, the lowest since August. The youth unemployment rate rose to 17.7 percent from 17.4 percent in the previous month.
2021-01-08

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.