The participation rate and the unemployment rate are related but are two different things. You can have a lot unemployment rate and it still be alright because of the participation rate that is caused by something unrelated to the economy, like an aging population. In Canada, the unemployment rate is as low as it was during the recession, some places in Canada are better than others as far as unemployment, but they are at a low that they haven’t been at in a while.
- Toronto is currently experiencing a great amount of unemployment, up 11.42% from last year and the highest since August of 2016.
- Montreal has also seen a dip with regards to employment participation rate and is currently at a 20 year old.
- Montreal also has the highest unemployment rate of the three biggest markets in Canada, up to 9.1% which is up over 50% from last year.
“Vancouver has seen this low rate of participation before, but not for very long. The participation rate dropped to 63.2% in March, down 7.47% from a year before. This is the lowest it has been since April 2015, but only in that month.”