The unemployment rate in Canada declined for the fourth straight month to 6.9% in September of 2021 from 7.1% in August, as widely expected. That was the lowest jobless rate since the onset of the pandemic in February of last year, as several provinces had implemented proof-of-vaccination requirements, or planned to do so, which allowed for non-essential venues to reopen more safely. The unemployed population was little changed, while the number of people in the labour force increased by 139,000, translating into a 0.4 percentage point increase in the labour force participation rate to 65.5%. Employment surged by 157,000 to pre-pandemic levels, easily beating market estimates of a 65,000 increment. Job gains were concentrated in full-time work (+193,600), as part-time employment shrank (-36,500). source: Statistics Canada
Unemployment Rate in Canada averaged 7.65 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 October of 2021.
Unemployment Rate in Canada is expected to be 7.00 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 6.50 percent in 2022 and 6.20 percent in 2023, according to our econometric models.