Canada Unemployment Rate

Country:
Canada
CAD, Canadian dollar
Sector:
Labor
Medium 6.1% 6.0%
5.8%
Last release Importance Actual Forecast
Previous
6.3%
6.1%
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
Mar 2024
6.1%
6.0%
5.8%
Feb 2024
5.8%
5.7%
5.7%
Jan 2024
5.7%
5.8%
5.8%
Dec 2023
5.8%
5.9%
5.8%
Nov 2023
5.8%
5.6%
5.7%
Oct 2023
5.7%
5.5%
5.5%
Sep 2023
5.5%
5.5%
5.5%
Aug 2023
5.5%
5.4%
5.5%
Jul 2023
5.5%
5.3%
5.4%
Jun 2023
5.4%
5.1%
5.2%
May 2023
5.2%
5.0%
5.0%
Apr 2023
5.0%
5.0%
5.0%
Mar 2023
5.0%
5.0%
5.0%
Feb 2023
5.0%
5.0%
5.0%
Jan 2023
5.0%
5.0%
5.0%
Dec 2022
5.0%
5.1%
5.1%
Nov 2022
5.1%
5.2%
5.2%
Oct 2022
5.2%
5.3%
5.2%
Sep 2022
5.2%
5.1%
5.4%
Aug 2022
5.4%
4.9%
4.9%
Jul 2022
4.9%
5.0%
4.9%
Jun 2022
4.9%
5.1%
5.1%
May 2022
5.1%
5.2%
5.2%
Apr 2022
5.2%
5.4%
5.3%
Mar 2022
5.3%
6.0%
5.5%
Feb 2022
5.5%
6.2%
6.5%
Jan 2022
6.5%
5.9%
6.0%
Dec 2021
5.9%
6.3%
6.0%
Nov 2021
6.0%
6.8%
6.7%
Oct 2021
6.7%
7.0%
6.9%
Sep 2021
6.9%
7.3%
7.1%
Aug 2021
7.1%
7.7%
7.5%
Jul 2021
7.5%
8.0%
7.8%
Jun 2021
7.8%
8.2%
8.2%
May 2021
8.2%
7.8%
8.1%
Apr 2021
8.1%
7.9%
7.5%
Mar 2021
7.5%
8.8%
8.2%
Feb 2021
8.2%
9.0%
9.4%
Jan 2021
9.4%
8.6%
8.8%
Dec 2020
8.6%
8.7%
8.5%
Nov 2020
8.5%
9.0%
8.9%
Oct 2020
8.9%
9.6%
9.0%
Sep 2020
9.0%
11.8%
10.2%
Aug 2020
10.2%
9.3%
10.9%
Jul 2020
10.9%
12.8%
12.3%
Jun 2020
12.3%
3.1%
13.7%
May 2020
13.7%
25.3%
13.0%
Apr 2020
13.0%
9.2%
7.8%
Mar 2020
7.8%
5.5%
5.6%
Feb 2020
5.6%
5.7%
5.5%

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