Economic Scan - Yukon, Northwest Territories and Nunavut: 2026
Demographics
Highlights
- In 2025, the total population of Canada's three territories reached 136,058, an increase of 1.3% (+1,796) compared to the previous year.
- Yukon‘s population grew 1.4% (+683) to 48,278 in 2025, the largest increase among the territories. Its median age of 38.2 years is the oldest of the three territories.
- The population of the Northwest Territories (NWT) increased by 1.5% (+693) to 45,950 from 2024 to 2025. The median age in the NWT is 35.8 years.
- Nunavut's population grew 1.0% (+420) to 41,830 from 2024 to 2025. The territory has the youngest population in Canada, with a median age of 27.1 years.
The median ages in each of the three territories were below the national median age of 40.6 in 2025.
According to Census 2021, 60,235 people representing 51.0% of the three territories' total population self-identified as Indigenous. Labour force participation among the territories' Indigenous population was lower than in the non-Indigenous population. Indigenous labour force participation was 64% in the Yukon and 59.1% in the NWT. Nunavut had the lowest labour force Indigenous participation rate in Canada in 2021, at 52.3%.
Black, Indigenous, and people of colour made up 60.5% of the population in the territories in 2021, almost double the national average (30.9%). Indigenous people accounted for 51.0% of the territories' total population, well above the national average (4.9%).
The total number of international immigrants that arrived in the territories increased modestly from 2023/2024 to 2024/2025. The Yukon received 826 newcomers, down 7.7% year-over-year. The Northwest Territories recorded a significant increase of immigrant inflows, up 24.6% to 456 in 2024/2025. Nunavut also recorded a 28.1% increase in immigration, with 73 immigrants arriving.
About 26% of the territories' population aged 15 years and over self-identified as a person with disability in 2022, a lower proportion than the national average (27%). The Yukon had a higher rate of persons with disabilities than the NWT and Nunavut. These differences may reflect variations in age structure across the territorial populations. For example, Nunavut had the highest proportion of youth of all the provinces and territories but had the lowest rate of persons with disabilities in the country.
Source: Statistics Canada - Canadian Survey on Disability (CSD) 2022.
Labour Market Conditions
In 2025...
Labour force increased moderately (+1.2%)
Employment increased moderately (+1.1%)
Unemployment rate remained unchanged (0.0 pp)
| Yukon | |
| Northwest Territories | |
| Nunavut |
Show data table
| Year | Yukon | Northwest Territories | Nunavut |
|---|---|---|---|
| 2015 | 6.0 | 9.0 | 15.7 |
| 2016 | 6.6 | 7.9 | 14.6 |
| 2017 | 4.3 | 7.4 | 15.0 |
| 2018 | 3.9 | 7.8 | 13.9 |
| 2019 | 4.1 | 7.0 | 14.0 |
| 2020 | 5.6 | 9.7 | 15.7 |
| 2021 | 6.1 | 6.1 | 10.4 |
| 2022 | 4.4 | 5.0 | 14.1 |
| 2023 | 3.5 | 6.0 | 13.2 |
| 2024 | 4.3 | 5.8 | 8.3 |
| 2025 | 4.2 | 5.0 | 10.3 |
- Total employment in the three territories increased 1.1% to 64,500 between 2024 and 2025. Each territory experienced year-over-year employment growth.
- Year-over-year, the unemployment rate for the combined territories remained unchanged at 5.8%. The Yukon's unemployment rate dropped slightly by 0.1 percentage points to 4.2%, while the NWT's rate fell by 0.8 percentage points to 5.0%.
- Nunavut was the only territory to record an increase in its unemployment rate, up 2.0 percentage points to 10.3%, the highest rate in Canada.
Economic Conditions
Territories' Economic Drivers in 2025
Major defence investments
Upgrading and expanding northern infrastructure
Vast mineral potential
Source: Signal49 Research. E-data. November 2025.
Show data table
| Year | Yukon | Northwest Territories | Nunavut |
|---|---|---|---|
| 2025 | -1.9% | -0.8% | 5.5% |
| 2026 | 2.5% | -2.9% | 6.9% |
| 2027 | 1.7% | 1.8% | 3.2% |
| 2028 | 2.0% | 2.0% | -3.7% |
Reviewing 2025...
- The Yukon and the NWT encountered short-term challenges in 2025, including reduced mineral production, limited private investment, labour shortages, rising living costs, and the impact of geopolitical uncertainty on commodity markets.
- The Yukon's economy contracted in 2025, largely due to the closure of the Eagle Gold Mine in 2024.
- The NWT's economy contracted in 2025, driven by reduced diamond production. The territory continues to face economic pressure as the diamond industry declines, with Diavik mine closing in March 2026, Ekati under financial strain, and global diamond prices falling.
- Nunavut experienced strong economic growth in 2025, supported by government funded infrastructure projects and robust mining activity. Higher gold prices further strengthened the territory's economy through increased output from its four operating gold mines.
- According to Signal49 Research, the NWT's GDP is projected to decline by 2.9% in 2026, while Yukon's is expected to grow by 2.5%. Nunavut is forecasted to record the strongest growth, with GDP rising 6.9%.
Risks to the Territories' Economy in 2026
- Ongoing geopolitical uncertainty will continue to weigh on territorial economic activity.
- Housing shortages will remain a constraint on labour attraction and retention.
- Labour shortages will intensify in 2026 as reduced federal migration targets limit workforce growth, placing added pressure on already tight labour markets across the territories.
- Limited economic diversification will remain a major challenge, as the territories continue to rely heavily on mining. Building growth in emerging sectors will require more investment in infrastructure and workforce development.
Regional Issues
Migration
Net interprovincial migration has been negative in both the NWT and Nunavut over the last five years, mainly due to residents moving to southern provinces in search of better job prospects. From 2020/2021 to 2024/2025, a total of 5,188 people left Nunavut and 4,054 moved to the territory. During that same period, 9,886 residents departed the NWT and 8,456 people moved to the territory.
Over that same period, the Yukon had positive net interprovincial migration. While 6,587 individuals moved out, another 8,092 relocated to the territory. This trend likely reflected the Yukon's comparatively stronger economic performance over those years.
Industry Trends
Show data table
| Industry (NAICS) | Employment Change ('000s) | Percent Change (%) |
|---|---|---|
| Trade | +0.5 | +6.8 |
| Accommodation and food services | +0.4 | +16.0 |
| Public administration | +0.4 | +2.6 |
| Business, building and other support services | +0.3 | +23.1 |
| Health care and social assistance | +0.3 | +3.3 |
| Information, culture and recreation | +0.2 | +8.3 |
| Educational services | +0.2 | +3.2 |
| Forestry, fishing, mining, oil and gas | +0.2 | +9.5 |
| Construction | +0.1 | +2.3 |
| Finance, insurance, real estate and leasing | -0.2 | -9.1 |
| Professional, scientific and technical services | -0.4 | -14.3 |
| Transportation and warehousing | -0.4 | -11.4 |
| Other services | -0.5 | -20.0 |
- The territories' construction sector is set for strong short-term growth. As part of a $6B, seven-year plan, the federal government launched a $1B Arctic Infrastructure Fund for dual-use transportation projects supporting communities and national defence. These investments will create jobs, strengthen economies, improve transportation links, and help businesses reach new markets.
- Nunavut's mining sector is expected to grow over the next few years as gold production rises. Mining employment in the Yukon should remain steady, supported by exploration until new projects start in the 2030s. Mining employment in the NWT is projected to decline as its large diamond mines reach closure, and smaller upcoming mines not expected to offset the losses.
- The territories' health care and social services sector will see steady growth, supported by increased funding for hospitals, new facilities, and community programs. In November 2025, the NWT approved over $37M for health facility upgrades, new builds, and equipment replacements.
Regional Economic Conditions
- From 2024 to 2025, employment in the NWT increased slightly, rising 0.4% (+100) to 23,000, with the largest gains in the trade sector.
- Employment in Nunavut increased moderately between 2024 and 2025, rising 1.4% (+200) to 14,500. A decline in public administration employment was offset by gains in utilities and educational services.
- The Yukon had the strongest employment growth in 2025 of the three territories, up 2.3% (+600) from the previous year, with the largest gains in public administration.
Employment Change by Economic Region, 2025
Show data table
| Economic Region | Percent Change (%) | Employment Change ('000s) |
|---|---|---|
| Yukon | +2.3 | +0.6 |
| Nunavut | +1.4 | +0.2 |
| Northwest Territories | +0.4 | +0.1 |
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