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.

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Canada Unemployment Rate


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.
Actual Previous Highest Lowest Dates Unit Frequency
5.90 6.00 13.70 2.90 1966 - 2021 percent Monthly
SA

Calendar GMT Actual Previous Consensus TEForecast
2021-12-03 01:30 PM Nov 6% 6.7% 6.6% 6.6%
2022-01-07 01:30 PM Dec 5.9% 6% 6% 6%
2022-02-04 01:30 PM Jan 5.9%


Related Last Previous Unit Reference
Unemployment Rate 5.90 6.00 percent Dec/21
Employed Persons 19370.80 19316.10 Thousand Dec/21
Unemployed Persons 1212.30 1243.80 Thousand Dec/21
Part Time Employment -67.70 73.80 Thousand Dec/21
Full Time Employment 122.50 79.90 Thousand Dec/21
Employment Change 54.70 153.70 Thousand Dec/21
Labor Force Participation Rate 65.30 65.30 percent Dec/21
Youth Unemployment Rate 10.80 10.50 percent Dec/21
Labour Costs 120.63 117.14 points Sep/21
Productivity 109.01 110.67 points Sep/21
Wages 27.75 27.49 CAD/Hour Oct/21
Wages in Manufacturing 27.45 27.43 CAD/Hour Oct/21
Minimum Wages 14.35 14.25 CAD/Hour Oct/21
Population 38.01 37.78 Million Dec/20
Average Hourly Earnings 31.22 31.18 CAD Dec/21
Employment Rate 61.50 61.40 percent Dec/21
Wage Growth 2.70 2.60 percent Oct/21
Non Farm Payrolls 16613.90 16289.10 Thousand Jul/21
Job Vacancies 731905.00 553480.00 Jun/21


News Stream
Canada Jobless Rate at New Pandemic Low
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.
2022-01-07
Canada Jobless Rate at New Pandemic Low
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.
2021-12-03
Canada Jobless Rate Falls More than Expected
The unemployment rate in Canada declined for the fifth straight month to 6.7% in October of 2021 from 6.9% in September, below market expectations of 6.8%, as the implementation of proof-of-vaccination requirements expanded through workplaces across more provinces, which allowed for non-essential venues to reopen more safely. That was the lowest jobless rate since the onset of the pandemic in February of last year and within 1 percentage point from the 5.7% recorded in February 2020. The unemployed population shrank by 56,000 (-4.0% to 1,365,600), while the number of employed increased by 31,200 people (+0.2% to 19,162,400) but missed market forecasts of a 50,000 ris. Meanwhile, the number of people in the labour force fell by 25,000, (-0.1% to 20,528,000) translating to a labour force participation rate of 65.3% in October.
2021-11-05