Employment Trends

The unemployment rate in Canada was 6.5% as of October 2024, unchanged from the previous month. The unemployment rate stood 6.9% below the peak in June 2020 and is below the long-run average.

There were 31,300 more full-time jobs in October 2024 compared to a month earlier. A loss of 3,500 part-time positions led to an increase of 27,800 total jobs in October.

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.