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Unemployment rate · Canada

Canada Unemployment Rate

The Canada Unemployment Rate measures the share of the labour force in Canada, people working or actively looking for work, who have no job but want one.

Importance
High
Released
Monthly
Next release
Currency
CAD · Canadian dollar
Central bank
The Bank of Canada
Moves
AUDCAD# · CADCHF# · CADJPY# · EURCAD# · GBPCAD# · NZDCAD# · USDCAD

Latest figures

The latest release for SEP, published on 9 October 2026, came in at 6.5%, in line with the consensus of 6.5%, up from 6.4% the time before.

A result in line with the consensus usually causes little reaction: it was already priced in.

Over the last 12 releases it ranged from 6.4% to 6.9%, averaging 6.6%.

Nov 2025: 6.9%Dec 2025: 6.5%Jan 2026: 6.8%Feb 2026: 6.5%Mar 2026: 6.7%Apr 2026: 6.7%May 2026: 6.9%Jun 2026: 6.6%Jul 2026: 6.5%Aug 2026: 6.4%Sep 2026: 6.4%Oct 2026: 6.5% Nov 2025Oct 2026
Actual results; the short line on a bar marks the consensus.
ReleasedForActualConsensusPrevious
9 Oct 2026SEP6.5%6.5%6.4%
4 Sep 2026AUG6.4%6.4%6.4%
7 Aug 2026JUL6.4%6.5%6.5%
10 Jul 2026JUN6.5%6.6%6.6%
5 Jun 2026MAY6.6%6.9%6.9%
8 May 2026APR6.9%6.7%6.7%
10 Apr 2026MAR6.7%6.8%6.7%
13 Mar 2026FEB6.7%6.6%6.5%
6 Feb 2026JAN6.5%6.8%6.8%
9 Jan 2026DEC6.8%6.6%6.5%
5 Dec 2025NOV6.5%7%6.9%
7 Nov 2025OCT6.9%7.1%7.1%

See it in the economic calendar →

Why it matters

Full employment is part of most central banks' mandate. A falling unemployment rate means a tighter labour market, faster wage growth and more inflation pressure, which can keep the Bank of Canada hawkish; a rising rate is one of the clearest recession signals (the US "Sahm rule" flags a 0.5-point rise in the three-month average).

How it is calculated

Statistics Canada usually runs a household survey: people are counted as unemployed if they had no work, were available and looked for a job recently. The rate is unemployed ÷ (employed + unemployed). Registered jobless and claimant counts instead count people signed on for benefits. Participation is the labour force ÷ working-age population.

Unemployment rate = unemployed ÷ labour force × 100
Labour force = employed + unemployed

What changes mean

  • A lower rate than expected usually supports the Canadian dollar.
  • Check participation: unemployment can fall because people stop looking, which is not good news.
  • Broader measures (US U-6) include part-timers who want more hours.

Higher than expected: A higher unemployment rate than expected points to a weakening labour market: the Canadian dollar tends to soften as markets price in lower rates.

Lower than expected: A lower unemployment rate than expected signals a tight labour market: it tends to support the Canadian dollar and push bond yields up.

A short history

Systematic unemployment statistics began in the 1930s Depression; the International Labour Organization's definition, adopted in 1982, is used by most countries today.

Questions

What is the Canada Unemployment Rate?

The Canada Unemployment Rate measures the share of the labour force in Canada, people working or actively looking for work, who have no job but want one.

What was the latest Canada Unemployment Rate?

6.5% for SEP, published on 9 October 2026 (consensus 6.5%, previous 6.4%).

When is the next Canada Unemployment Rate?

On Friday 6 November 2026 at 13:30 UTC.

Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.