The unemployment rate in Canada dropped to 9.0 percent in September of 2020 from 10.2 percent in the previous month and well below market expectations of 9.7 percent. The jobless rate fell for the fourth consecutive month, down from an all-time high of 13.7% reached in May as a result of the COVID-19 economic shutdown, but still remaining well above 5.6% reported in February. The economy added 378.2 thousand jobs, beating forecasts of a 156.6 thousand gain, due to both full-time work (+334 thousand) and part-time employment (+44 thousand). The labour force participation rate increased to 65 percent from 64.6 percent in the prior month, above consensus of 64.8 percent. The youth unemployment rate declined to 18.9 percent from 23.1 percent in August.

Unemployment Rate in Canada averaged 7.64 percent from 1966 until 2020, 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 October of 2020. source: Statistics Canada

Unemployment Rate in Canada is expected to be 10.10 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 9.30 in 12 months time. In the long-term, the Canada Unemployment Rate is projected to trend around 8.50 percent in 2021 and 6.50 percent in 2022, according to our econometric models.

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Canada Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
9.00 10.20 13.70 2.90 1966 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-07-10 12:30 PM Jun 12.3% 13.7% 12% 11.9%
2020-08-07 12:30 PM Jul 10.9% 12.3% 11% 11.3%
2020-09-04 12:30 PM Aug 10.2% 10.9% 10.1% 10.3%
2020-10-09 12:30 PM Sep 9% 10.2% 9.7% 9.9%
2020-11-06 01:30 PM Oct 9%
2020-12-04 01:30 PM Nov


News Stream
Canada Jobless Rate Drops More than Expected
The unemployment rate in Canada dropped to 9.0 percent in September of 2020 from 10.2 percent in the previous month and well below market expectations of 9.7 percent. The jobless rate fell for the fourth consecutive month, down from an all-time high of 13.7% reached in May as a result of the COVID-19 economic shutdown, but still remaining well above 5.6% reported in February. The economy added 378.2 thousand jobs, beating forecasts of a 156.6 thousand gain, due to both full-time work (+334 thousand) and part-time employment (+44 thousand). The labour force participation rate increased to 65 percent from 64.6 percent in the prior month, above consensus of 64.8 percent. The youth unemployment rate declined to 18.9 percent from 23.1 percent in August.
2020-10-09
Canada Jobless Rate Falls Further in August
The unemployment rate in Canada decreased to 10.2 percent in August of 2020 from 10.9 percent in the previous month and slightly above market expectations of 10.1 percent. The economy added 245.8 thousand jobs, below forecasts of a 275 thousand gain, due to both full-time work (205.8 thousand) and part-time employment (40 thousand). The labour force participation rate went up to a six-month high of 64.6 percent from 64.3 percent in the prior month.
2020-09-04
Canada Jobless Rate Falls More than Expected
The unemployment rate in Canada dropped to 10.9 percent in July 2020, easing further from April’s record high of 13.7 percent and compared with market expectations of 11 percent, as people continued to return to the labor market amid the easing of coronavirus-induced lockdowns restrictions. The economy added 418.5 thousand jobs, above forecasts of a 400 thousand gain, due to both full-time work (73.2 thousand) and part-time employment (345.3 thousand). The labour force participation rate went up to 64.3 percent from 63.8 percent in the prior month. The youth unemployment rate declined to 24.2 percent from 27.5 percent in June.
2020-08-07
Canada Jobless Rate Falls from Record High
The unemployment rate in Canada fell to 12.3 percent in June 2020 from a record high of 13.7 percent in May, and compared market expectations of 12 percent, as several people returned to the labor market amid the easing of coronavirus-induced lockdowns restrictions. The economy added a record 952.9 thousand jobs, above forecasts of a 700 thousand gain, due to both full-time work (+488.1 thousand) and part-time employment (+464.8 thousand). The labour force participation rate went up to 63.8 percent from 61.4 percent in the previous month while the youth unemployment rate dropped to 27.5 percent from an all-time high of 29.4 percent in May.
2020-07-10

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.