{ "terms": { "url": "https://www.bankofcanada.ca/terms/" }, "groupDetail": { "label": "Chart 3: Labour market indicators suggest some slack", "description": "Note: The heatmap shows the distance of each labour market indicator from the midpoint of its benchmark range. The colour is white when the indicator is close to the midpoint of its benchmark range, a varying shade of red when it is indicative of excess demand and a varying shade of blue when it is indicative of excess supply. To make the indicators more comparable, each indicator is divided by its standard deviation. The standard deviation is calculated using data from April 2015 to December 2019 for the Job-vacancies-to-unemployment ratio and from 2003 to 2019 for all other indicators. Missing historical data for job vacancies before 2026Q1 are proxied using information from Indeed. Data for job vacancies in 2026Q1 reflect the month of January only. Although most indicators point to some labour market slack, the job separation rate remains low, reflecting modest layoffs, with labour market adjustment occurring mainly through reduced hiring rather than increased separations. The benchmark ranges are established using the methodology outlined in E. Ens, K. See and C. Luu, “Benchmarks for assessing labour market health: 2023 update,” Bank of Canada Staff Analytical Note No. 2023-7 (May 2023).\n\nSources: Statistics Canada, Indeed and Bank of Canada calculations", "link": "https://www.bankofcanada.ca/?p=252550" }, "seriesDetail": { "MPR_2026M04_LABOUR_HEATMAP_S1": { "label": "Unemployment rate", "description": "Unemployment rate", "dimension": { "key": "d", "name": "Date" } }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "label": "Job-vacancies-to-unemployment ratio", "description": "Job-vacancies-to-unemployment ratio", "dimension": { "key": "d", "name": "Date" } }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "label": "Job separation rate", "description": "Job separation rate", "dimension": { "key": "d", "name": "Date" } }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "label": "Job finding rate", "description": "Job finding rate", "dimension": { "key": "d", "name": "Date" } }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "label": "Employment rate", "description": "Employment rate", "dimension": { "key": "d", "name": "Date" } }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "label": "Average hours worked", "description": "Average hours worked", "dimension": { "key": "d", "name": "Date" } } }, "observations": [ { "d": "2020-01-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "0.3" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "0.6" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "5.5" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "0.7" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "1.1" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "2.9" } }, { "d": "2020-04-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "9.3" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "4.2" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "20.1" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "-1.9" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "9.5" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "8.5" } }, { "d": "2020-07-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "4.8" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "3.3" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "2.7" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "0.3" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "4.6" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "2.2" } }, { "d": "2020-10-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "3.3" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "1.8" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "3.9" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "1.3" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "2.9" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "1.3" } }, { "d": "2021-01-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "2.7" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "1.4" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "2.3" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "-1.0" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "2.9" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "-0.2" } }, { "d": "2021-04-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "1.8" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "0.5" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "1.2" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "0.8" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "2.2" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.2" } }, { "d": "2021-07-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "0.4" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-1.6" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "0.0" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "0.8" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "0.4" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.5" } }, { "d": "2021-10-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "-1.0" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-3.0" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-0.3" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "-1.2" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "-0.9" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "-0.2" } }, { "d": "2022-01-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "-1.6" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-3.5" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-0.4" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "-1.8" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "-1.2" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "-0.1" } }, { "d": "2022-04-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "-2.2" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-4.6" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.9" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "-0.4" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "-1.9" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.1" } }, { "d": "2022-07-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "-2.4" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-4.3" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-0.7" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "-0.5" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "-1.8" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "-0.4" } }, { "d": "2022-10-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "-2.4" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-3.2" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.3" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "-0.7" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "-1.9" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "-0.4" } }, { "d": "2023-01-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "-2.1" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-2.4" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.3" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "-0.2" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "-2.1" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "-0.6" } }, { "d": "2023-04-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "-1.8" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-1.7" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.1" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "-0.2" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "-1.8" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "-0.5" } }, { "d": "2023-07-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "-1.3" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-1.0" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.0" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "0.3" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "-1.4" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "-0.1" } }, { "d": "2023-10-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "-0.8" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-0.7" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.1" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "1.5" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "-1.0" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.3" } }, { "d": "2024-01-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "-0.5" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-0.6" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-0.6" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "0.5" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "-0.5" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.1" } }, { "d": "2024-04-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "0.0" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "-0.1" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.1" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "1.4" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "-0.1" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.3" } }, { "d": "2024-07-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "0.3" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "0.2" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.2" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "1.5" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "0.5" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.2" } }, { "d": "2024-10-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "0.6" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "0.5" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-0.4" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "2.2" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "0.7" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.4" } }, { "d": "2025-01-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "0.5" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "0.7" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.7" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "2.4" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "0.6" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.5" } }, { "d": "2025-04-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "0.8" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "1.2" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.3" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "2.1" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "0.9" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.4" } }, { "d": "2025-07-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "0.9" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "1.6" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-0.9" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "2.3" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "1.1" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.5" } }, { "d": "2025-10-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "0.5" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "1.8" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.2" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "1.5" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "0.6" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "1.0" } }, { "d": "2026-01-01", "MPR_2026M04_LABOUR_HEATMAP_S1": { "v": "0.2" }, "MPR_2026M04_LABOUR_HEATMAP_S2": { "v": "1.9" }, "MPR_2026M04_LABOUR_HEATMAP_S3": { "v": "-1.3" }, "MPR_2026M04_LABOUR_HEATMAP_S4": { "v": "1.7" }, "MPR_2026M04_LABOUR_HEATMAP_S5": { "v": "0.9" }, "MPR_2026M04_LABOUR_HEATMAP_S6": { "v": "0.9" } } ] }