Employment Trends

The unemployment rate in Canada was 5.9% as of March 2024, up 0.1% from the previous month. The unemployment rate stood 7.5% below the peak from June 2020 and is below the long-run average.

There were 19,400 more full-time jobs in March 2024 compared to a month earlier. A gain of 5,800 part-time positions led to an increase of 25,200 total jobs in March.

Full-time employment has recovered since reaching a bottom in August 2022 and now stands at a record high.

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