The unemployment rate in Canada was revised to 8.8 percent in December of 2020 from 8.5 percent in the previous month, above market expectations of 8.6 percent. The economy shed 52.7 thousand jobs, above forecasts of a 27.5 thousand drop as part-time employment was down by 95.4 thousand while full-time employment rose by 42.7 thousand. The labour force participation rate edged down to 65 percent from 65.1 percent in the prior month, the lowest since August. The youth unemployment rate rose to 17.8 percent from 17.2 percent in the previous month. source: Statistics Canada
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 February of 2021.
Unemployment Rate in Canada is expected to be 8.20 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 7.50 in 12 months time. In the long-term, the Canada Unemployment Rate is projected to trend around 6.50 percent in 2022, according to our econometric models.