Total number of working age residents who are willing, able and available for work but not working, as a percentage of total residents of working age who are willing, able and available for work.
- Peel’s average overall unemployment rate declined to 6.0 per cent in the first quarter of 2020 as many Peel residents stopped looking for work due to the onset of the COVID-19 pandemic.
- Those who stopped looking for work are recognized as leaving the labour market and therefore are not counted as unemployed.
- If the persons who left the labour market were counted as unemployed, Peel’s unemployment would be 8.7 per cent in Q1 2020.
A total of 24,500 Peel residents left the labour market in the first quarter of 2020, all youth (15 – 24 years).
Those residents who left the labour market were not counted in the calculation of the unemployment rate resulting in a fall in the number of unemployed persons and a decline in the unemployment rate.
Peel’s quarterly average unemployment rate fell from 7.9 per cent in the first quarter of 2019 to 6.0 per cent in the first quarter of 2020.
Peel’s quarterly average unemployment rate would be 8.7 per cent, if those who left the labour market were counted as unemployed.
In the first quarter of 2020, youth (15-24 years) unemployment rate increased slightly to 13.7 per cent, whereas unemployment rate for adults (25 years and over) fell significantly to 5.0 per cent.