Unemployment Rate: Canada
Current Value (2024)
6.4%
All-Time Peak (1993)
11.4%
All-Time Low (2022)
5.3%
Unemployment Rate — Canada
Analysis# Canada's Unemployment Rate Analysis (1991–2024)
Canada's unemployment rate has declined 4.8 percentage points from its 1993 peak of 11.377%—coinciding with the post-recession recovery of the mid-1990s—to the current 6.351%, reflecting structural labor market improvements and stronger economic growth periods. The 2022 low of 5.279% represents near-full employment conditions, likely driven by pandemic labor market disruptions and subsequent tight hiring demand, while the current 6.351% suggests moderating labor demand and gradual workforce adjustment following monetary tightening. Overall, Canada's 33-year trend shows significant volatility compressed into the
Historical Data
| Year | Value | Change % |
|---|---|---|
| 2024 | 6.4% | +17.29% |
| 2023 | 5.4% | +2.58% |
| 2022 | 5.3% | -29.87% |
| 2021 | 7.5% | -22.06% |
| 2020 | 9.7% | +69.72% |
| 2019 | 5.7% | -2.52% |
| 2018 | 5.8% | -9.17% |
| 2017 | 6.4% | -8.70% |
| 2016 | 7.0% | +1.34% |
| 2015 | 6.9% | -1.11% |
| 2014 | 7.0% | -1.68% |
| 2013 | 7.1% | -3.37% |
| 2012 | 7.4% | -3.21% |
| 2011 | 7.6% | -6.62% |
| 2010 | 8.2% | -3.33% |
| 2009 | 8.5% | +34.63% |
| 2008 | 6.3% | +2.08% |
| 2007 | 6.2% | -5.06% |
| 2006 | 6.5% | -4.05% |
| 2005 | 6.8% | -5.94% |
Show all 34 rows
| Year | Value | Change % |
|---|---|---|
| 2004 | 7.2% | -5.14% |
| 2003 | 7.6% | -1.19% |
| 2002 | 7.7% | +6.18% |
| 2001 | 7.2% | +5.71% |
| 2000 | 6.8% | -9.94% |
| 1999 | 7.6% | -8.40% |
| 1998 | 8.3% | -9.03% |
| 1997 | 9.1% | -5.41% |
| 1996 | 9.6% | +1.38% |
| 1995 | 9.5% | -8.72% |
| 1994 | 10.4% | -8.63% |
| 1993 | 11.4% | +1.61% |
| 1992 | 11.2% | +8.54% |
| 1991 | 10.3% | — |