Canada: It’s possible that hiring kept rolling in August – CIBC
|Next Friday, the Canadian employment report will be released. Analyst at CIBC forecast a net gain of 50K, following the 94K increase in jobs in July. In the US there are no major data releases next week.
Key Quotes:
“Despite hundreds of thousands of jobs being created in the prior two months, it’s possible that hiring kept rolling in August. As of July, high contact services sectors were still operating below the levels of employment they were last summer. With vaccinations allowing for the return of Canada’s baseball team and other events in August, there seems to be room to see employment in those sectors rise further in next week’s report. While activity in other industries such as construction, manufacturing and wholesaling has slowed this summer, hiring had already fallen previously in those categories.”
“Canada didn’t see the same rise in Covid cases in August as the US. As a result, the economic toll of the fourth wave will likely be delayed a few months north of the border.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.