Definitions

Unemployment rate (%)

Refers to the number of unemployed persons expressed as a percentage of the labour force. Learn more

Labour market indicator (LMI)

A composite indicator summarizing the information contained in several labour market measures. For more information, see: Beyond the Unemployment Rate: Assessing Canadian and U.S. Labour Markets Since the Great Recession by Mikael Khan and Konrad Zmitrowicz. Learn More

Participation rate (%)

Refers to the labour force expressed as a percentage of the population 15 years of age and over.  Learn more

Growth in employment (annualized rate, %)

Refers to the annualized growth rate of the population 15 years of age and over that is employed. Learn more

Labour shortage (% firms)

From the Business Outlook Survey conducted by the Bank of Canada’s regional offices, proportion of firms affected by a shortage of labour that restricts the ability to meet demand. Learn more

Intensity of labour shortages (balance of opinion)

From the Business Outlook Survey conducted by the Bank of Canada’s regional offices, percentage of firms reporting more intense labour shortages compared with 12 months ago minus the percentage of firms reporting that these shortages are less intense. Learn more