Canada’s employment data for September will be reported by Statistics Canada on Friday, October 6 at 12:30 GMT and as we get closer to the release tim
e, here are forecasts from economists and researchers at five major banks regarding the upcoming jobs figures. The North American economy is expected to have added 20K vs. 39.9K in August, while the Unemployment Rate is seen at 5.6% vs. the prior release of 5.5%. TDS We look for job growth to slow to 12K in August as softer business sentiment leads some firms to pare back their hiring plans.
We expect to see a moderate 20K jobs created, half of the pace seen in August, and more in line with weaker domestic demand signals seen in the GDP and Retail Sales data lately. Brisk population growth has raised the bar for the magnitude of hiring that’s required to prevent a climb in the unemployment rate, with September’s job gain likely not meeting that threshold, causing the jobless rate to tick up to 5.6%.
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