Thunder Bay Real Estate Board

Thunder Bay Employment Trends

The unemployment rate in Thunder Bay was 3.4% as of May 2024, down 0.8% from the previous month. The unemployment rate stood 8.3% below the peak from June 2020 and is below the long-run average.

There were 1,200 more full-time jobs in May 2024 compared to a month earlier. A loss of 100 part-time positions led to an increase of 1,100 total jobs in May.

Full-time employment was still down 2,500 jobs from the peak in February 2022 but stood 1,900 jobs above the trough in March 2024.

* All figures are seasonally adjusted, 3-month moving averages. Seasonal adjustment removes normal seasonal fluctuations.


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