According to analysts at TD Securities, Canada’s labour market is forecast to rebound with the creation of 15k jobs in August (market: 20k) following the first consecutive declines since 2014.
Key Quotes
“Details should prove upbeat with a partial recovery in private employment while wage growth is projected to push even higher to 4.7% y/y (market: 4.5%) due in part to base-effects. Lastly, our forecast has the unemployment rate edging lower to 5.6%, helped by modest labour force growth during August.”
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