Toronto Employment Trends
The unemployment rate in Toronto was 7.1% as of February 2024, up 0.3% from the previous month. The unemployment rate stood 8% below the peak from July 2020 and is below the long-run average.
There were 10,400 more full-time jobs in February 2024 compared to a month earlier. A loss of 10,400 part-time positions led to an unchanged number of total jobs in February.
Full-time employment was still down 62,900 jobs from the peak in June 2023 but stood 10,400 jobs above the trough in January 2024.
* All figures are seasonally adjusted, 3-month moving averages. Seasonal adjustment removes normal seasonal fluctuations.