Toronto Employment Trends

The unemployment rate in Toronto was 8% as of August 2024, up 0.3% from the previous month. The unemployment rate stood 7.1% below the peak from July 2020 but remains above the long-run average.

There were 3,800 more full-time jobs in August 2024 compared to a month earlier. A loss of 1,300 part-time positions led to an increase of 2,500 total jobs in August.

Full-time employment was still down 11,000 jobs from the peak in June 2023 but stood 42,100 jobs above the trough in January 2024.

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

The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with the Toronto Employment Trends. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither The Canadian Real Estate Association nor the Toronto Employment Trends assumes any responsibility or liability. Copyright ©2024. The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

Toronto Regional Real Estate Board