The unemployment rate in Canada inched up to 6.5% in September 2026 from a two-year low of 6.4% in the previous month, in line with market expectations. The jobless rate remained below its two-year average, when the Canadian economy slowed under the Bank of Canada's aggressive rate-hiking cycle and elevated inflation. The number of unemployed people rose by 15,400 to 1.475 million during the period, even as the labor force participation rate fell by 0.2 percentage points to 64.8%, its lowest level since 1997 when excluding the initial shock of the COVID-19 pandemic. The unemployment rate rose by 0.3 pp to 5.3% for core-aged women, offsetting the 0.2 pp reduction to 5.8% in that for men. The rise in the headline rate coincided with an unexpected 68,300 drop in net employment, contrasting with expectations of a slight increase. source: Statistics Canada
Unemployment Rate in Canada increased to 6.50 percent in September from 6.40 percent in August of 2026. Unemployment Rate in Canada averaged 7.55 percent from 1966 until 2026, reaching an all time high of 14.20 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 October of 2026.
Unemployment Rate in Canada increased to 6.50 percent in September from 6.40 percent in August of 2026. Unemployment Rate in Canada is expected to be 6.60 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 6.80 percent in 2027, according to our econometric models.