Real Estate Blog - workforce

Canada’s Unemployment Rate Is Improving… As More People Exit The Workforce

Posted by Teri-Lynn Jones on November 8th, 2021

Canada’s unemployment fell and things sound a lot better, but it might not be what it seems. Statistics Canada (Stat Can) data shows the unadjusted unemployment rate fell in October. A deeper dive shows a drop in full-time employment was made up by a rise in part-time employment. Also, the drop in unemployed people? It was nearly the size of the number of people who dropped out of the workforce.

Canada’s Unemployment Rate Fell To 6% Last Month

The Canadian unemployment rate fell to pre-pandemic levels showing recovery is near. It might not look (or feel) the same as it was before the pandemic though. The unemployment rate fell to 6.0% in October, down from 6.3% the previous month. It was the lowest rate since February 2020, the last full month…

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