Find the latest unemployment numbers in the Labour Market Information Dashboard.
Overview
- Nova Scotia’s unemployment rate improved in the post-Covid period. It fell from 9.9% in 2020 to a historic low of 6.4% in 2023, before edging up slightly to 6.5% in 2024.
- In 2024, the unemployment rate of men (7.4%) was higher than that of women (5.6%) in Nova Scotia, a pattern consistent for the past five years.
- The number of unemployed rose by 5.5% to 36,200 in 2024, outpacing the labour force expansion of 3.3% between 2023 and 2024.
Provincial Comparison
The unemployment rate in Nova Scotia remains the lowest in Atlantic Canada.
However, it remained above the national average. The gap did narrow to just 0.2 percentage point in 2024 (6.3% in Canada vs 6.5% in Nova Scotia). Among all provinces, Nova Scotia falls in the mid-range, with the 6th highest unemployment rate in 2024.
Calculations based on Statistics Canada Table 14-10-0327-01 Labour force characteristics by sex and detailed age group, annual.
By Age and Gender
Overall, youth have the highest unemployment rate while older workers have the lowest. The unemployment rate rose for youth and core age workers while it fell slightly for older workers in 2024. Across all age groups, women consistently experience lower unemployment rates than men in the last decade, with the widest gap observed among youth. A few exceptions, however, were noted among older workers in 2021 and 2022.
Youth workers aged 15 to 24 in Nova Scotia:
- The youth unemployment rate has rebounded since its historic low of 11.4% in 2022, rising to 12.0% in 2023 and edging up to 12.1% in 2024. Despite this increase, it remained low by historic standards.
- The unemployment rate of young women (10.7%) remained lower than that of men (13.3%) in 2024, a pattern consistent over the past decade.
Core age (aged 25 to 54) workers in Nova Scotia:
- The unemployment rate rose slightly from 5.2% in 2023 to 5.6% in 2024, remaining near historic lows. This was also the lowest among Atlantic provinces in 2024.
- Men’s unemployment rate rose from 5.6% in 2023 to 6.4% in 2024. Conversely, women’s unemployment rate remained at 4.6% in both years.
Older workers aged 55 years and older:
- The unemployment rate for older workers was 5.5% in 2024, down from 6.0% in 2023. For the first time in a decade, it dropped below the rate for those aged 25-54, reaching its lowest level in three decades.
- The low levels of unemployment rates among older workers can partly be explained by their greater likelihood of retiring and exiting the labour market after extended unemployment, as reflected by their lower participation rates.
- The unemployment rate of women has been lower than that of men in the past decade except for the years 2021 and 2022, when it was slightly higher. In 2024, the rates for this age group were 6.3% for men and 4.5% for women.
Calculations based on Statistics Canada Table 14-10-0327-01 Labour force characteristics by sex and detailed age group, annual.
By Education
Education Attainment (aged 25 and over)
In general, higher levels of education are associated with lower unemployment rates.
In 2024, those with “0 to 8 years” (11.6%) of schooling had the highest unemployment rate at 11.6%, while university graduates had the lowest at 4.7%. Compared to 2023, unemployment rates increased for university degree holders, individuals with high school diplomas, and those with some high school education. Other groups saw declines, most notably individuals with 8 years of schooling or less, whose rate fell by 1.4 percentage points, from 13% in 2023 to 11.6% in 2024).
Calculations based on Statistics Canada Table 14-10-0020-01 Unemployment rate, participation rate and employment rate by educational attainment, annual.
Location of study
People who earned their college or university education in Nova Scotia had a higher unemployment rate than those who went to college or university elsewhere, according to the 2021 Census of Population.
In Nova Scotia:
- People who went to college or university, including those with certificates or diplomas, had a lower unemployment rate in 2023 than the overall provincial unemployment rate, which was 5.4%.
- The unemployment rates varied depending on the type of college or university education and where people got their education, according to the 2021 Census data.
- Overall, those who earned their college or university education in Nova Scotia had a higher unemployment rate than those who studied elsewhere. This is mainly influenced by those with apprenticeships or trades certificates or diplomas.
- People with college or university credentials below a bachelor’s degree level that they earned in another province had higher unemployment rates than those who earned them in Nova Scotia. But those with credentials higher than a bachelor’s degree level that was earned in Nova Scotia had higher unemployment rates than those earned elsewhere.
The biggest difference in unemployment rates between credentials earned in and outside of Nova Scotia was for people with degrees in medicine, dentistry, veterinary medicine, or optometry. It should be noted that anyone who wants to study veterinary medicine or optometry needs to earn those credentials outside of Nova Scotia. People with credentials in medicine, dentistry, veterinary medicine, or optometry have the lowest rates of unemployment in Nova Scotia regardless of where they studied.
For both non-certified and certified trades, those that were earned in the province made it generally easier to find a job in Nova Scotia. This differs from 2016 when the unemployment rate for non-certified trades earned in Nova Scotia was higher than for those who earned it outside of the province. This differs than the situation in 2016 when unemployment rate for those with noncertified trade obtained in Nova Scotia was higher than for those who obtained it outside of the province.
Calculations based on Statistics Canada Table 98-10-0445-01 Labour force status by major field of study, highest level of education, location of study compared with location of residence, age and gender.
Employment Insurance
The number of post-pandemic EI beneficiaries remains below pre-pandemic levels, in general.
- From January 2023-December 2024, the monthly number of employment insurance beneficiaries remained around 22,000, peaking at 22,420 and dipping to 21,040 during the past three years.
- In the absence of major economic disruptions, the number of Employment Insurance (EI) recipients tend to remain relatively stable and consistently lower than the total number of unemployed individuals.
- During the COVID-19 lockdown, EI recipients spiked to a record high of 77,000 in May 2021. As the economy recovered, the number dropped sharply and stabilized at around 22,000, which is lower than the pre-pandemic levels near 30,000.
Calculations based on Statistics Canada Tables 14-10-0011-01 (formerly CANSIM 276-0022) and 14-10-0287-01 (formerly CANSIM 282- 0087)