Toronto’s labor market suffered a sharp decline in April 2025, shedding 27,700 full-time jobs compared to March, according to a Toronto Regional Real Estate Board report that analyzed Statistics Canada data.
The unemployment rate stood at 8.6% in April, down slightly from March but significantly higher than pre-pandemic levels. This marks the second consecutive month of job losses for Canada’s largest city.
Full-time employment has now fallen 35,400 positions below February’s peak, according to the Toronto Regional Real Estate Board. Despite gaining 26,800 part-time positions, Toronto posted a net loss of 900 total jobs in April.
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The Financial Sector and Accommodation & Food Services showed strong year-over-year growth, each adding approximately 35,000 full-time positions since April 2024. Education, Information & Cultural industries, and Public Administration also recorded moderate gains.
Transportation & Warehousing was hardest hit, losing roughly 25,000 jobs year-over-year. Trade and Manufacturing also contracted significantly, with losses of approximately 20,000 and 10,000 jobs respectively.
After adding over 20,000 jobs in both September 2024 and January 2025, Toronto’s employment numbers turned sharply negative in March before accelerating downward in April, posting the largest monthly decline in the reported period.
The current unemployment rate continues an upward trend that began in early 2023, though it remains well below the pandemic peak of nearly 16% in 2020.
Analysts suggest these figures could indicate broader economic cooling after the post-pandemic recovery, with particular weakness in goods-producing and trade sectors possibly signaling reduced consumer demand.
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