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.
- As the labour market continued to be impacted by the COVID-19 pandemic, Peel’s quarterly average overall unemployment rate increased from 6.7 per cent in Q3 2019 to 13.4 per cent in Q3 2020.
- The unemployment rates for both youth (15 – 24 years) and adults (25 years and over) also increased during the same period.
- Peel’s quarterly average unemployment rates are expected to remain elevated in the last quarter of the year, as Peel moved back to a modified stage 2 of the phased reopening of the economy in October 2020.
In Q3 2020, labour market conditions in Peel continued to reflect the impact of the COVID-19 pandemic, with elevated unemployment rates.
Peel’s overall quarterly average unemployment rate increased from 6.7 per cent in Q3 2019 to 13.4 per cent in Q3 2020, the highest third-quarter unemployment rate recorded in Peel since Peel-specific quarterly data became available in 2003.
A significant increase was observed in Peel’s youth (15 – 24 years) unemployment rate when the rate increased from 17.4 per cent in Q3 2019 to 33.2 per cent in Q3 2020.
The unemployment rate for adults (25 years and over) also increased from 4.8 per cent in Q3 2019 to 9.4 per cent in Q3 2020.
Despite the elevated unemployment rates in Q3 2020, these were lower than the COVID-19 induced record-high unemployment rate observed in the previous quarter.