The unemployment rate in Canada was at 5% in December of 2022, the lowest since the record-low of 4.9% in June and July, decreasing from 5.1% in the prior month and beating market estimates of 5.2%. The result signaled that the Canadian labor market remains stubbornly tight, adding tightening leeway for the Bank of Canada despite its latest signal that rate hikes should end soon. The number of unemployed individuals fell by 12.7 thousand to 1,036,900, driven by lower unemployment in core-aged men, while female unemployment and youth unemployment was relatively unchanged. In the meantime, the number of employed individuals rose by 104 thousand to 20,807,100, with notable increases in professional, scientific, and technical services (1.3% to 1,844,000) and construction (2.3% to 1,554,300). Meanwhile, the labor force participation rate rose by 0.2 percentage points to 65%. source: Statistics Canada

Unemployment Rate in Canada averaged 7.60 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 February of 2023.

Unemployment Rate in Canada is expected to be 5.20 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 6.00 percent in 2024, according to our econometric models.

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Canada Unemployment Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-02 01:30 PM Nov 5.1% 5.2% 5.3% 5.4%
2023-01-06 01:30 PM Dec 5% 5.1% 5.2% 5.2%
2023-02-10 01:30 PM Jan 5% 5.1% 5.2%


Related Last Previous Unit Reference
Unemployment Rate 5.00 5.10 percent Dec 2022
Employed Persons 19770.30 19666.30 Thousand Dec 2022
Unemployed Persons 1036.90 1049.60 Thousand Dec 2022
Part Time Employment 19.50 -40.60 Thousand Dec 2022
Full Time Employment 84.50 50.70 Thousand Dec 2022
Employment Change 104.00 10.10 Thousand Dec 2022
Labor Force Participation Rate 65.00 64.80 percent Dec 2022
Youth Unemployment Rate 10.10 10.30 percent Dec 2022
Labour Costs 125.36 124.70 points Sep 2022
Productivity 108.45 107.75 points Sep 2022
Wages 29.09 28.96 CAD/Hour Nov 2022
Wages in Manufacturing 29.99 29.80 CAD/Hour Nov 2022
Minimum Wages 15.50 15.00 CAD/Hour Oct 2022
Population 38.44 38.01 Million Dec 2021
Employment Rate 61.80 61.50 percent Dec 2022
Average Hourly Earnings 32.85 32.85 CAD Dec 2022
Wage Growth 4.20 3.40 percent Nov 2022
Non Farm Payrolls 17708.00 17695.00 Thousand Nov 2022
Job Vacancies 991680.00 1031955.00 Sep 2022

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
5.00 5.10 13.70 2.90 1966 - 2022 percent Monthly
SA

News Stream
Canada Unemployment Rate Falls to 5-Month Low
The unemployment rate in Canada was at 5% in December of 2022, the lowest since the record-low of 4.9% in June and July, decreasing from 5.1% in the prior month and beating market estimates of 5.2%. The result signaled that the Canadian labor market remains stubbornly tight, adding tightening leeway for the Bank of Canada despite its latest signal that rate hikes should end soon. The number of unemployed individuals fell by 12.7 thousand to 1,036,900, driven by lower unemployment in core-aged men, while female unemployment and youth unemployment was relatively unchanged. In the meantime, the number of employed individuals rose by 104 thousand to 20,807,100, with notable increases in professional, scientific, and technical services (1.3% to 1,844,000) and construction (2.3% to 1,554,300). Meanwhile, the labor force participation rate rose by 0.2 percentage points to 65%.
2023-01-06
Canada Jobless Rate Falls More Than Expected
The unemployment rate in Canada was at 5.1% in November of 2022, decreasing slightly from the 5.2% in the prior month and beating market estimates of 5.3%, signaling that the Canadian labor market remains tight. The number of unemployed individuals fell by 23.8 thousand to 1,049,000, largely due to lower joblessness for women aged lower than 24 years and men aged older than 50. Still, the number of individuals facing long-term unemployment was steady at 174,000. In the meantime, the number of employed individuals rose by 10.1 thousand to 19,114,000, especially among the core working ages. Employment grew in finance, insurance, and rental and leasing (+1.6% to 1,359,600), and information, culture, and recreation (+1.9% to 815,000), offsetting the decline for wholesale and retail trade (-0.8% to 2,863,900). Meanwhile, the labor force participation rate fell by 0.1 percentage point to 64.8%.
2022-12-02
Canadian Unemployment Rate Steady at 5.2%
The unemployment rate in Canada was at 5.2% in October of 2022, unchanged from the prior month and beating market estimates of 5.3%, signaling that the Canadian labor market remains tight. The number of unemployed individuals was relatively unchanged from the prior month at 1,073,400. In the meantime, employment rose by 108,300 to 19,656,200, the sharpest increase since February and well above estimates of 10,000 jobs being added. At the industry level, increased employment for goods-producing industries (1.1% to 4,027,100) was supported by construction (1.6% to 1,534,000) and manufacturing (1.4% to 1,744,200), while higher employment for services producers (0.4% to 15,629,100) was supported by food and accommodation services (1.7% to 1,077,300). Also, employment rose both for the public sector (0.4% to 4,286,800) and the private sector (0.6% to 12,718,300). In the meantime, the labor force participation rate rose by 0.2 percentage points to 64.9 percent.
2022-11-04