Canada: Jobs growth likely to slow to 15k in December - TDS

Analysts at TD Securities are looking for the Canadian jobs growth to slow to 15k in December following the blockbuster 94k increase last month.

Key Quotes

“A 15k increase in net employment will see the unemployment rate to hold at the current post-crisis low of 5.6%, although other details should prove more downbeat.”

“We see scope for full time employment to give back some of the 90k jobs created in November, leaving part-time hiring to drive job growth. And while wage growth is forecast to edge higher to 1.6% y/y, this is still quite subdued relative to historical norms, especially given the diminished slack in the labour market.”