Canada: Jobs data for July will likely show a small uptick in the labour market - Scotiabank

Research Team at Scotiabank, expects that the Canada’s jobs data for July will likely show a small uptick in the labour market after total labour force employment slipped in June.

Key Quotes

“We’re expecting a +10k print as total job gains revert to a modest trend pace. There were a variety of confusing and peculiar aspects to the June Labour Force Survey: the ranks of employees fell by -38.4k vs. a +37.7k gain in the ranks of the self-employed.

Full time jobs also fell by 40.1k on the month. The point is that the jobs number in June was much worse than it in fact may have seemed. This at once gives the sense that the labour market is weaker than it might superficially appear, but also points to the possibility of fairly large rebounds in a variety of categories.”