Canada Unemployment Rate

Country:
Canada
CAD, Canadian dollar
Sector:
Labor
Medium 5.8% 5.9%
5.9%
Last release Importance Actual Forecast
Previous
5.8%
5.8%
Next release Actual Forecast
Previous
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Canada Unemployment Rate is a percentage of unemployed workers in relation to the total civilian labor force. Unemployed people are those without a job who have been actively seeking work in the past four weeks.

Unemployment data is calculated based on a regular nationwide population survey. The survey is conducted throughout the country. The following categories are not included in the survey:

  • persons living on reserves and other Aboriginal settlements in the provinces
  • full-time members of the Canadian Armed Forces
  • persons living in extremely remote areas with very low population density

The specific feature of Canadian unemployment calculation is that the labor survey includes 15-year-olds, in contrast to most other developed countries, where labor force population includes citizens older than 15 years of age. The calculation methodology in Canada also includes the calculation of job search advertisements in the press and on Internet portals, whereas in the USA and Europe, only persons officially registered with state bodies are officially considered unemployed.

The presented data are seasonally adjusted.

The unemployment rate is the main indicator of the labor market state and one of the key indicators of the country's economic development. Unemployment growth is seen as a leading indicator of decline in consumer activity. The Bank of Canada uses unemployment data when preparing estimates and forecasts. Also, unemployment rate influences the BoC's interest rate decision. The lower the unemployment rate, the more favorable its effect on the Canadian dollar quotes.

Last values:

actual data

forecast

The chart of the entire available history of the "Canada Unemployment Rate" macroeconomic indicator. The dashed line shows the forecast values ​​of the economic indicator for the specified dates.

A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values ​​of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.

Date (GMT)
Reference
Actual
Forecast
Previous
Oct 2018
5.8%
5.9%
5.9%
Sep 2018
5.9%
5.9%
6.0%
Aug 2018
6.0%
5.9%
5.8%
Jul 2018
5.8%
5.9%
6.0%
Jun 2018
6.0%
5.8%
5.8%
May 2018
5.8%
5.8%
5.8%
Apr 2018
5.8%
5.8%
5.8%
Mar 2018
5.8%
5.8%
5.8%
Feb 2018
5.8%
5.8%
5.9%
Jan 2018
5.9%
5.8%
5.8%
Dec 2017
5.7%
6.0%
5.9%
Nov 2017
5.9%
6.4%
6.3%
Oct 2017
6.3%
6.1%
6.2%
Sep 2017
6.2%
6.0%
6.2%
Aug 2017
6.2%
6.3%
Jul 2017
6.3%
6.5%
Jun 2017
6.5%
6.6%
May 2017
6.6%
6.5%
Apr 2017
6.5%
6.7%
Mar 2017
6.7%
6.6%
Feb 2017
6.6%
6.8%
Jan 2017
6.8%
6.9%
Dec 2016
6.9%
6.8%
Nov 2016
6.8%
7.0%
Oct 2016
7.0%
7.0%
Sep 2016
7.0%
7.0%
Aug 2016
7.0%
6.9%
Jul 2016
6.9%
6.8%
Jun 2016
6.8%
6.9%
May 2016
6.9%
7.1%
Apr 2016
7.1%
7.1%
Mar 2016
7.1%
7.3%
Feb 2016
7.3%
7.2%
Jan 2016
7.2%
7.1%
Dec 2015
7.1%
7.1%
Nov 2015
7.1%
7.0%
Oct 2015
7.0%
7.1%
Sep 2015
7.1%
7.0%
Aug 2015
7.0%
6.8%
Jul 2015
6.8%
6.8%
Jun 2015
6.8%
6.8%
May 2015
6.8%
6.8%
Apr 2015
6.8%
6.8%
Mar 2015
6.8%
6.8%
Feb 2015
6.8%
6.6%
Jan 2015
6.6%
6.6%
Dec 2014
6.7%
6.6%
Nov 2014
6.6%
6.5%
Oct 2014
6.5%
6.8%
Sep 2014
6.8%
7.0%

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