Toronto Regional Real Estate Board

Toronto Employment Trends

The unemployment rate in Toronto was 6.7% as of October 2023, up 0.2% from the previous month. The unemployment rate stood 8.4% below the peak from July 2020 and is below the long-run average.

There were 21,500 fewer full-time jobs in October 2023 compared to a month earlier. A gain of 18,500 part-time positions led to a decrease of 3,000 total jobs in October.

Full-time employment was still down 65,700 jobs from the peak in July 2023.

The number of full-time jobs in October was up from the previous month in agriculture, construction, transportation & warehousing, professional & scientific services, and public administration.

Full-time job losses in October occurred in natural resources, utilities, manufacturing, trade services, the financial sector, business & building services, education, healthcare, information & cultural services, and accommodation & food services.

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

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