The unemployment rate in Canada fell to 5.1 percent in May of 2022 from 5.2 percent in April, while analysts expected it to remain unchanged. It was the lowest rate since comparable data became available in 1976. The rate was similar to or below previous all-time lows in four provinces: British Columbia (4.5 percent), New Brunswick (7.1 percent), Prince Edward Island (7.8 percent), and Newfoundland and Labrador (10.0 percent). source: Statistics Canada
Unemployment Rate in Canada averaged 7.62 percent from 1966 until 2022, 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 June of 2022.
Unemployment Rate in Canada is expected to be 5.50 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 5.50 percent in 2023, according to our econometric models.