Unemployment Rate Trends
The unemployment rate measures the share of the labour force that is unable to find employment. The labour force comprises the working-age population that is either working or unemployed and actively seeking work.
High rates indicate an economy operating at less than capacity. If persistent, this can lead to poverty and social instability. There is a potential for accelerating economic growth without accelerating inflation. Causes can include an inflexible labour market failing to adapt to structural change and to growth, loss of competitiveness and the business cycle.
In 2015, Winnipeg’s unemployment rate stood at six per cent and was lower than the national rate of 6.9 per cent. From 2010 to 2015, Winnipeg’s rate increased by 0.3 percentage points. When compared to other major metropolitan areas, this change was the highest. This jump was primarily due to the increase in the labour force over the same time period.
Unemployment Rate Change by Major Census Metopolitan Areas from 2010 to 2015
Source: Statistics Canada