Canada’s job market is facing a tough period, with unemployment rising to 6.8% in November 2024. This marks the highest rate in eight years, highlighting the ongoing challenges job seekers are experiencing across the country.
Unemployment Rate Reaches Highest Level in 8 Years
A recent report by Statistics Canada reveals that while 51,000 Canadians found work in November, the national unemployment rate increased to 6.8%, a level not seen since January 2017 (excluding the impact of the COVID-19 pandemic years of 2020 and 2021). This marks a 1.7% increase since April 2023, with 87,000 more Canadians actively seeking employment, a rise of 6.1% from the previous year.
Increase in Long-Term Unemployment and New Graduates Struggling
The data shows that long-term unemployment is on the rise, with 21.7% of unemployed individuals having been out of work for 27 weeks or more, an increase of 5.9 percentage points from the previous year. Additionally, the number of new graduates and individuals who have not worked in the past year or at all has grown, now representing 46.3% of the unemployed population, up from 39.5% in November 2023.
Unemployment Rates Vary Across Provinces
The level of unemployment in Canada varies significantly by province. Newfoundland and Labrador has the highest rate at 10.8%, followed by Prince Edward Island at 8%. Saskatchewan boasts the lowest rate at 5.6%, with Manitoba close behind at 5.8%. In Ontario, the unemployment rate is at 7.6%, and Toronto’s rate surpasses the provincial average, reaching 8.1%.
Youth Unemployment and Gender Disparities
Young Canadians aged 15 to 24 are especially feeling the strain, with the youth unemployment rate now at 13.9%. Meanwhile, the unemployment rate among those aged 55 and older has risen slightly to 5.3%. Gender disparities persist as well, with the unemployment rate for women increasing to 5.8%, while men’s unemployment rate remains stable at 5.7%.
BC Government Jobs Currently Hiring That Don’t Require a Degree
Affordable Canadian Cities with Booming Job Opportunities in 2025
Latest IT Job Openings in Edmonton
CSIS JOBS Open Across Canada: Some Roles Offer $100K with No Degree Required
Top 6 High-Performance Computing (HPC) Jobs in Ontario, Canada 2024 with Salary Over $100K
Some Industries Show Job Growth Despite the Decline
Despite the overall rise in unemployment, some sectors are seeing growth. The professional, scientific, and technical services industry added 17,000 jobs (a 0.9% increase), while construction gained 18,000 new workers (a 1.2% increase). The wholesale and retail trade industry led in job creation, adding 39,000 workers, or a 1.3% increase.
Leave a Reply