News Analysis
While Canada and the United States saw their unemployment rates reach near-record lows toward the end of the COVID-19 pandemic, Canada has since seen its unemployment rise by a larger percentage than its southern neighbour.
Both Canada and the United States saw their unemployment rates shoot up to over 13 percent during the height of the pandemic in 2020, if the same methodology is used to calculate the figures for both, as the two countries use different definitions. By late 2022, both countries had returned to their pre-pandemic averages of around 5 percent and 3.5 percent respectively.
However, Canada’s unemployment rate has since risen to hit 6.9 percent in June, while the United States has seen that metric rise to just 4.1 percent….