Today, the Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages, issued the following statement on the Employment Insurance premium rate for 2025:
"While Canadians are getting to work equipping themselves with the skills, know-how and tools they need to get ahead - and stay ahead - in a changing global economy, our government is making real progress toward building an innovative, accessible, and forward-looking workforce that supports our workers and their families.
Today, we're building on that progress by further supporting our strong safety net. The Canada Employment Insurance Commission has announced the 2025 EI premium rate at $1.64 per $100 of insurable earnings. This is lower than this year's rate of $1.66 and 24 cents lower than the 2013 and 2016 rates of $1.88. This is putting more money in the pockets of Canadian workers and employers and is evidence that our plan is bringing meaningful results to Canadians across the country.
We're also supporting workers by building an economy that puts them first.
And it's working.
More workers found employment in Canada today than in any G7 country post-pandemic. Our real gross domestic product grew 2.1 % (annualized) in the second quarter of 2024 and the International Monetary Fund expects Canada to lead the G7 in economic growth in 2025.
In June, we became the first G7 country to lower interest rates since the recent global rate hiking cycle, bringing inflation in Canada back to its lowest level in three years (2.5%).
And we're not stopping there. Our government is making historic investments in our economy today that will generate more growth, create more good paying jobs, and build a more innovative and productive 21st century workforce tomorrow all while safeguarding Canadians against future economic challenges.
This is how we're driving growth, prioritizing workers, and protecting their livelihoods."
