Canada: Economy likely to add 5k jobs in September – TD Securities

Analysts at TD Securities are looking for the Canadian economy to add 5k jobs during September, in line with the market consensus for a 6k increase, on the heels of a massive 88k print for August.

Key Quotes

“Details should prove largely downbeat, with private employment projected to contract on the month while the unemployment rate is expected to edge higher by 0.1pp to 5.8% (market: 5.7%). Wage growth should be the one bright spot, with average hourly earnings forecast to hold at 3.8% y/y.”