Bank of Canada reports highest long-term unemployment since early 2000s
The Bank of Canada has reported the highest long-term unemployment rate since the early 2000s, with over 25% of unemployed Canadians searching for work for six months or more. Youth unemployment has reached 14.3%, contributing to a significant decline in job availability as the economy lost over 100,000 jobs in 2026. The situation reflects a skills mismatch and slower hiring processes, impacting both current consumption and future productivity.
- ▪Long-term unemployment in Canada hit 25.4% in January 2026.
- ▪The overall unemployment rate rose to 6.9% in April 2026, up from 6.7% in March.
- ▪Approximately 112,000 jobs were lost in the first four months of 2026.
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Bank of Canada reports highest long-term unemployment since early 2000s A quarter of Canada's unemployed have been searching for work over six months, with youth joblessness hitting 14.3% as the economy sheds over 100,000 jobs in 2026. Share Add us on Google by Editorial Team May. 26, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); One in four unemployed Canadians has been looking for work for at least six months.
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