Toronto Employment Trends
The unemployment rate in Toronto was 8% as of August 2024, up 0.3% from the previous month. The unemployment rate stood 7.1% below the peak from July 2020 but remains above the long-run average.
There were 3,800 more full-time jobs in August 2024 compared to a month earlier. A loss of 1,300 part-time positions led to an increase of 2,500 total jobs in August.
Full-time employment was still down 11,000 jobs from the peak in June 2023 but stood 42,100 jobs above the trough in January 2024.
* All figures are seasonally adjusted, 3-month moving averages. Seasonal adjustment removes normal seasonal fluctuations.
