The unemployment rate in Canada eased to 6.7% in December 2024, down from 6.8% in the previous month and below expectations of 6.9%, though it remained the second-highest reading since September 2021. The result aligns with concerns about a softening labor market recently highlighted by policymakers at the Bank of Canada. The unemployed population declined by 24,200 to 1,492,100, while employment increased by 91,000 to 20,738,000. Joblessness rose among youth (+17,600 to 462,200) but fell for the core-aged population (-27,000 to 801,100) and the older population (-14,700 to 228,800). Meanwhile, the labor force participation rate held steady at a four-month high of 65.1%. source: Statistics Canada

Unemployment Rate in Canada decreased to 6.70 percent in December from 6.80 percent in November of 2024. Unemployment Rate in Canada averaged 7.54 percent from 1966 until 2024, 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 January of 2025.

Unemployment Rate in Canada decreased to 6.70 percent in December from 6.80 percent in November of 2024. Unemployment Rate in Canada is expected to be 6.30 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 5.90 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-12-06 01:30 PM
Unemployment Rate
Nov 6.8% 6.5% 6.6% 6.5%
2025-01-10 01:30 PM
Unemployment Rate
Dec 6.7% 6.8% 6.9% 6.8%
2025-02-07 01:30 PM
Unemployment Rate
Jan 6.7% 6.8%


Related Last Previous Unit Reference
Average Hourly Wages 36.64 36.52 CAD Dec 2024
Employed Persons 20738.30 20647.40 Thousand Dec 2024
Employment Change 90.90 50.50 Thousand Dec 2024
Employment Rate 60.80 60.60 percent Dec 2024
Full Time Employment Chg 57.50 54.20 Thousand Dec 2024
Job Vacancies 546075.00 577970.00 Sep 2024
Participation Rate 65.10 65.10 percent Dec 2024
Labour Costs 133.00 131.19 points Sep 2024
Minimum Wages 17.20 16.55 CAD/Hour Oct 2024
Non Farm Payrolls 18191.00 18212.00 Thousand Oct 2024
Part Time Employment Chg 33.50 -3.60 Thousand Dec 2024
Population 40.80 39.29 Million Dec 2023
Labor Productivity 101.37 101.77 points Sep 2024
Unemployed Persons 1492.10 1516.30 Thousand Dec 2024
Unemployment Rate 6.70 6.80 percent Dec 2024
Average Weekly Earnings YoY 5.30 4.90 percent Oct 2024
Wages 31.34 31.19 CAD/Hour Oct 2024
Wages in Manufacturing 30.91 31.12 CAD/Hour Oct 2024
Youth Unemployment Rate 14.40 13.90 percent Dec 2024

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
6.70 6.80 13.70 2.90 1966 - 2024 percent Monthly
SA


News Stream
Canada Unemployment Rate Unexpectedly Drops
The unemployment rate in Canada eased to 6.7% in December 2024, down from 6.8% in the previous month and below expectations of 6.9%, though it remained the second-highest reading since September 2021. The result aligns with concerns about a softening labor market recently highlighted by policymakers at the Bank of Canada. The unemployed population declined by 24,200 to 1,492,100, while employment increased by 91,000 to 20,738,000. Joblessness rose among youth (+17,600 to 462,200) but fell for the core-aged population (-27,000 to 801,100) and the older population (-14,700 to 228,800). Meanwhile, the labor force participation rate held steady at a four-month high of 65.1%.
2025-01-10
Canada Unemployment Rate Rise to More Than 3 Years High
The unemployment rate in Canada rose to 6.8% in November of 2024, from 6.5% in the previous month, above expectations of 6.6% and marking the highest reading since September 2021. The result comes in line with concerns about a softening labor market recently raised by policymakers at the Bank of Canada. The unemployed population rose substantially by 87,300 people to 1,516,300, while employment rose by 50,500 to 20,647,400. Joblessness rose among youth (+41,200 to 444,600), the core aged population (+24,200 to 828,100) and the older population (+21,800 to 243,500). Meanwhile, the labor force participation rate in Canada rose by 0.3 percentage points from the previous month to 65.1%, marking a 3-month high.
2024-12-06
Canada Unemployment Rate Unexpectedly Holds at 6.5%
The unemployment rate in Canada was at 6.5% in October of 2024, remaining unchanged from the previous month and slightly below market expectations that it would have bounced back to the near 3-year high of 6.6% from August. The result further alleviated concerns that the Canadian economy would not be able to halt the marked softening in the labor market undergone in the second half of the year. The unemployed population rose by 900 people to 1,429,000. In turn, net employment rose by 14,500 to 20,596,900 but missed market expectations that it would rise by 25,000. Joblessness fell sharply for the youth (-20,800 to 403,400), offsetting a sharper increase in the core aged population (21,300 to 803,900), while that for the older population was loosely unchanged. In the meantime, the labor force participation rate eased by 0.1 percentage points from the previous month to 64.8%, the lowest since January 2021.
2024-11-08