Canada: employment data to show how labor market ended Q3 - Wells Fargo

On Friday, the Canadian employment report will be released. According to analysts from Wells Fargo, the data will give a contemporary read on how the labor market finished out the third quarter. 

Key Quotes: 

“Over the past year or so, Canada’s labor market has been adding jobs at about as fast a rate as it has at any point in the past decade or so. While monthly jobs number can be notoriously volatile in Canada, the 6-month moving average shows sustained job growth north of 25K for the better part of the past year. September jobs numbers come out on Friday and will give a contemporary read on how the labor market finished out the third quarter.”

“Canada’s GDP growth in each of the first two quarters of 2017 was the fastest of any of the G-7 economies, an outcome that not too many forecasters expected at the start of the year. The better-than-expected outturn is partly a function of low base-effects after a retrenchment in business spending in 2015 and 2016 along with a rebuilding of inventories. We worry that without those supports, growth in Canada will moderate in the second half.”