Thunder Bay Real Estate Board

Thunder Bay Employment Trends

The unemployment rate in Thunder Bay was 5.4% as of December 2024, up 0.1% from the previous month. The unemployment rate stood 6.3% below the peak from June 2020 and is below the long-run average.

There were 300 fewer full-time jobs in December 2024 compared to a month earlier. A gain of 300 part-time positions led to an unchanged number of total jobs in December.

Full-time employment was still down 1,800 jobs from the peak in February 2022 but stood 2,600 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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