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Toronto unemployment rises to 8.4 %


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Employment Trend Chart A 0Employment Trend Chart A 1Employment Trend Chart A 2

The unemployment rate in Toronto was 8.4% as of December 2024, up 0.3% from the previous month. The unemployment rate stood 6.7% below the peak from July 2020 but remains above the long-run average.

There were 14,500 more full-time jobs in December 2024 compared to a month earlier. A loss of 4,500 part-time positions led to an increase of 10,000 total jobs in December.

Full-time employment has recovered since reaching a bottom in January 2024 and now stands at a record high.

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