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.
- In Q2 2020, Peel’s quarterly average overall unemployment rate was at a record high 15.7 per cent.
- Peel’s youth unemployment also rose to a record high 36.2 per cent in the same period.
- Higher unemployment rates occurred in response to a decline in employment due to COVID-19 related business closures.
Labour market conditions in Peel worsened in Q2 2020 with sustained job losses and higher unemployment rates across all age cohorts.
Peel’s overall quarterly average unemployment rate increased from 6.7 per cent in Q2 2019 to 15.7 per cent in Q2 2020, the steepest increase recorded in Peel since Peel-specific data became available in 2006.
The largest increase was observed in Peel’s youth (15 - 24 years) unemployment rate which more than doubled from 14.3 per cent in Q2 2019 to 36.2 per cent in Q2 2020.
Compared with the 2007-08 recession, the COVID-19 induced increase in Peel’s unemployment rates was more pronounced, reflecting the unanticipated and severe economic impact of the pandemic.
In upcoming months, labour market conditions in Peel are expected to improve as the economy reopens, available jobs increase, and more residents return to work.
However, as is typical after an economic downturn, residents are expected to re-enter the labour market at a faster rate than the increase in employment opportunities, which will result in Peel’s unemployment rate remaining elevated in the short-to-medium term.