Canada unemployment rate

Canada unemployment rate: 5.5 (1.85%)
Last Update: July 31, 2023

Canada unemployment rate closed down 5.5 as of July 31, 2023 from 5.4 from the previous month and 7.5 from last year.


Canada unemployment rate Data & Analytics



Canada unemployment rate

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Canada unemployment rate

Date Values
2023-07-31 5.5
2022-06-30 5.4
2022-05-31 5.2
2022-04-30 5
2022-03-31 5
2022-02-28 5
2022-01-31 5
2021-12-31 6
2021-11-30 6
2021-10-31 6.7
2021-09-30 6.9
2021-08-31 7.1
2021-07-31 7.5
2021-06-30 7.8
2021-05-31 8.2
2021-04-30 8.1
2021-03-31 7.5
2021-02-28 8.2
2021-01-31 9.4
2020-12-31 8.8


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Canada Unemployment rate Statistics

Click here to explore the methodology used for estimating the Canada unemployment rate signals presented in the statistics table below.

Indicator Symbol Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
unemployment rate ca.unemploymentrate 5.5 5.4 2 -27 Down Down 23 2023-07-31

Canada Financial Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
S&P/TSX Composite TSE 20218.9 -0.5 0 0.16863 49.2576 -0.01337 -0.00021 0.02194 0.04297
Canada ETF EWC 34.85 0.5 0.5 0.458 54.3228 -0.0091 0.01073 0.03474 0.03844
Canadian Dollar US Dollar (CAD/USD) CADUSD 1.3449 -0.5 -0.25 -0.10294 41.339 -0.00267 -0.00782 -0.0076 -0.02776
Canada 10-Year Bond Yield CA.10Y 3.862 1 1 2.12717 67.8931 0.03014 0.04605 0.01259 0.21868
Canada 5-Year Bond Yield CA.5Y 3.888 -0.5 0.75 1.34291 44.0671 -0.00359 -0.04892 -0.02262 0.21881
Canada 2-year bond yield CA.2Y 4.905 1 1 1.7072 65.805 0.02465 0.04184 0.0149 0.29079
Canada Yield Curve CA.YC -1.054 1 -0.25 -0.58216 47.3274 0.0233 0.04253 0.03638 0.75374
Canada Credit Default Swaps CDS.Canada 39.46 0 0.75 0.46097 52.4182 0 0 0.00051 -0.50671

Canada Financial News Stream

Canada Macroeconomic Indicators

Indicator Symbol Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
balance of trade ca.balanceoftrade -987.4 -4916.7 -80 319 Down Down 90 2023-08-31
bank lending rate ca.banks.lendingrate 7.2 6.7 7 53 UP UP 80 2023-07-31
banks balance sheet ca.banks.bs 1184890 1182170 0 9 UP UP 65 2023-07-31
building permits ca.buildingpermits 11661300 11836400 -1 -6 UP Down 20 2023-08-31
business confidence ca.bizconfidence 53.5 48.6 10 2 UP UP 64 2023-09-30
capacity utilization ca.caputilization 81.4 81.8 0 1 UP UP 66 2023-03-31
capital flows ca.capitalflows -10124 -2182 364 0 Down Down 52 2023-06-30
car registrations ca.carregistrations 165418 165568 0 8 UP UP 91 2023-06-30
central bank balance sheet ca.cb.assets 349045 357830 -2 -21 Down Down 7 2023-08-31
consumer confidence ca.consconfidence 47.66 46.9 2 -5 Down Down 41 2023-09-30
consumer price index cpi ca.cpi 158.7 158.1 0 4 UP UP 67 2023-08-31
core inflation rate ca.coreinflationrate 3.3 3.2 3 -43 Down Down 15 2023-08-31
current account ca.currentaccount -6627 -3170 109 -40 Down UP 42 2023-09-30
current account to gdp ca.currentaccountgdp 0.1 -1.9 -105 -103 UP UP 0 2021-01-31
deposit interest rate ca.depositrate 5.13 5.17 -1 -1 Down Down 5 2023-08-15
exports ca.exports 60416.7 59970.2 1 -7 Down Down 18 2023-08-31
external debt ca.externaldebt 3653960 3603680 1 27 UP UP 45 2024-01-31
fiscal expenditure ca.fiscalexp 30917 29955 3 10 Down UP 72 2023-06-30
foreign direct investment ca.fdi 12235 20366 -40 12 Down UP 57 2023-06-30
foreign exchange reserves ca.fxreserves 114687 114512 0 6 UP UP 64 2023-08-31
gdp ca.gdp 2139.84 2001.49 7 33 UP UP 0 2022-12-31
Real GDP ca.realgdp 2198980 2200060 0 1073 UP UP 100 2023-06-30
gdp growth ca.gdpgrowth 0 0.6 -100 -100 Down UP 29 2023-06-30
gdp growth annual ca.gdpgrowthan 1.12 2.08 -46 -380 UP UP 5 2023-03-31
gdp growth annualized ca.gdpgrowthannu -0.2 2.6 -108 -99 Down UP 30 2023-06-30
gold reserves ca.goldres 0 3 -100 -100 Down Down 0 2015-12-31
government budget ca.govbudget -3.6 -14.9 -76 0 Down Down 67 2022-01-31
Government budget ca.govbudgetvalue 2110 3350 -37 -155 UP UP 19 2023-07-31
government debt to gdp ca.govdebtgdp 112.8 117.8 -4 42 UP UP 0 2021-01-31
government revenues ca.govrev 37617 37917 -1 5 UP UP 48 2023-05-31
housing index ca.housingindex 125.2 125.5 0 3 Down UP 53 2023-01-31
housing starts ca.housingstarts 252.79 254.97 -1 -6 UP Down 30 2023-08-31
imports ca.imports 61404.1 64886.9 -5 -6 Down Down 9 2023-08-31
industrial production ca.indproduction 0.03 0.46 -93 -99 Down Down 47 2023-03-31
industrial production mom ca.indproductionmm 0.39 -0.99 -139 -329 UP UP 22 2023-01-31
inflation cpi ca.inflationcpi 4 3.3 21 -43 Down Down 30 2023-08-31
interbank rate ca.interbankrate 5.5 5.49 0 0 UP Down 13 2023-08-15
interest rate ca.interestrate 5 4.75 5 100 UP UP 74 2023-07-12
loans to private sector ca.loanprivate 654874 654144 0 13 UP UP 43 2023-07-31
Canada ca.manpmi 48 49.6 -3 -1 Down Down 61 2023-08-31
money supply m0 ca.msm0 294017 294458 -0 -2 Down Down 40 2023-07-31
money supply m1 ca.msm1 1510780 1505650 0 -6 Down Down 11 2023-07-31
money supply m2 ca.msm2 2423490 2410430 1 2 UP UP 2 2023-07-31
money supply m3 ca.msm3 3493920 3475270 1 5 UP UP 21 2023-07-31
Producer Price Index ca.producerprices 124.9 124.4 0 -5 Down Down 3 2023-06-30
PPI Index ca.producerpricesch -0.5 -2.7 -81 -105 Down Down 40 2023-08-31
retail sales MoM ca.retailsales 0.1 0.1 0 -104 Down UP 52 2023-07-31
retail sales ca.retailsalesan -0.59 0.21 -381 -108 Down Down 15 2023-07-31
retail sales ex autos ca.retailsalesexauto -0.8 -0.3 167 -69 Down UP 68 2023-07-31
unemployment rate ca.unemploymentrate 5.5 5.4 2 -27 Down Down 23 2023-07-31
youth unemployment rate ca.ytunemploymentrate 11.3 10.2 11 14 UP UP 78 2023-08-31

Canada unemployment rate analysis

Canada’s unemployment rate is the percent of the labor force that is jobless. Unemployment rate is a lagging economic indicator. Explore MacroVar financial knowledge base structured by professional fund managers and economists.

Canada unemployment rate trend

Canada unemployment rate trend is in an uptrend when the last value is higher than its twelve-month moving average and its twelve-month moving average slope is positive (last twelve-month moving average is higher than the previous month twelve-month moving average) and vice-versa. MacroVar calculates the number of months the Canada unemployment rate has recorded new highs or lows. Canada unemployment rate trend change is assumed when the specific indicator has recorded a 3-month high / low or more.

Canada unemployment rate momentum

Canada unemployment rate momentum is monitored by calculating its long-term year over year (Y/Y) return and its short-term month on month (M/M) return.