How's the Economy?

Canada · data to Sep 2026

How are jobs?

OK.

Unemployment is 6.5%, close to its 20-year average of 6.9%.

For context: 6.5% is lower than 82% of all 609 figures since 1976.

Unemployment rate

Share of people who want work and can't find it, with the 20-year average

0%2.5%5%7.5%10%12.5%15%17.5%201020152020202520-year average 6.9%Peak 14.2%Now 6.5%
0%2.5%5%7.5%10%12.5%15%17.5%2010202020-year average 6.9%Peak 14.2%Now 6.5%

The strip under the chart shows the verdict each period would get by today's rules:Good OK Bad

See the latest numbers
PeriodValueVerdict
Sep 20266.5%OK
Aug 20266.4%OK
Jul 20266.4%Good
Jun 20266.5%OK
May 20266.6%OK
Apr 20266.9%OK
Mar 20266.7%OK
Feb 20266.7%OK
Jan 20266.5%OK
Dec 20256.8%OK
Nov 20256.6%OK
Oct 20256.9%OK

Download the full series (CSV)

Source: Statistics Canada, Labour Force Survey, unemployment rate, 15 years and over, seasonally adjusted (table 14-10-0287) · Series v2062815 · Latest Sep 2026

How we judged this

What we test: How much the figure has changed over 1 year; then how far the latest figure sits above or below its 20-year average. Right now that's -0.6 pts over 1 year and -0.4 pts against the 20-year average.

  1. Bad if it’s up 1.00 pts or more on a year earlier, whatever the rules below say
  2. Good if under -0.50 pts against its 20-year average
  3. OK if from -0.50 pts to under +0.75 pts against its 20-year averageapplies now
  4. Bad if anything the rules above don’t cover

Rules are checked from the top. The first one that fits decides the verdict.

Read the full method

About this data

Measure
Unemployment rate
Latest
6.5% (Sep 2026)
Published
Monthly, by Statistics Canada
Verdict counts for
Equal weight with the others in the overall verdict

Lower is better. We compare it with the long-run average because there's no official target for unemployment.

A fast rise counts against it too: if unemployment is up 1 point or more on a year earlier, jobs are Bad whatever the average says. In a downturn unemployment can climb quickly while still sitting below a long-run average pulled up by past slumps.

From the monthly Labour Force Survey, which began in 1976, so verdicts start in 1996, once there are 20 years to average.

Download the data (CSV)

The rest of the picture