Unemployment in Canada

Canada Unemployment | Economic News & Forecasts

Canada - Unemployment

The economy was likely fairly tepid in the first quarter of the year. GDP data for February showed a contraction in economic activity, amid production curtailments in the energy sector, while the manufacturing PMI averaged lower than in Q4. However, Q1 retail sales posted a slight improvement from the prior quarter, which suggests private consumption likely gained impetus. Growth should pick up somewhat in Q2, although indicators are mixed. On one hand, the manufacturing PMI in April posted the lowest reading in over three years. On the other, housing starts unexpectedly surged in April, which bodes well for residential investment, while, in the same month, the unemployment rate dipped and the economy added a record number of jobs. On the political front, on 17 May President Trump agreed to lift tariffs on Canadian steel and aluminum, which should boost business sentiment going forward and facilitate the ratification of the USMCA.

Canada - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate7.1  6.9  6.9  7.0  6.3  

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Canada Unemployment Chart


Canada Unemployment
Note: Unemployment in % of active population.
Source: Statistics Canada.

Canada Facts

ValueChangeDate
Bond Yield1.451.00 %Jun 13
Exchange Rate1.340.15 %Jun 14
Stock Market16,3020.23 %Jun 14

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