Search Icon
FXEMPIRE
icon
Advertisement
Advertisement

Search Indicator:

Choose Country
icon
Choose Indicator
icon

Canada Unemployment Rate

Last Release
Jun 30, 2024
Actual
6.4
Units In
%
Previous
6.2
Frequency
Monthly
Next Release
Aug 09, 2024
Time to Release
1 Months 1 Days 2 Hours
Highest
Lowest
Average
Date Range
Source
13.7
May 2020
2.9
Jun 1966
7.55 %1966-2024Statistics Canada
In Canada, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Latest Updates

The unemployment rate in Canada rose to 6.4% in June of 2024 from 6.2% in the earlier month, the highest since January of 2022, and surpassing market expectations of 6.3%. It aligned with the Bank of Canada’s rhetoric that higher interest rates are having a larger impact on the Canadian labor market, strengthening the argument for doves in the BoC’s Governing Council that further rate cuts are necessary to support the economy. The number of unemployed people rose by 42,000 from the previous month to 1,400,000, particularly due to increases in unemployment for the youth (+0.9pp to 13.5%) and core-aged men (+0.2pp to 5.6%). In the meantime, net employment fell by 1,400 from the previous month to 20,516,400, a sharp contrast with expectations of a 22,500 increase.

Canada Unemployment Rate History

Last 12 readings

Trade With A Regulated Broker