Here comes Canada's jobs report...
Chris Wattie / Reuters
Economists expect that the Canadian economy added 5,000 jobs in June and that the unemployment rate ticked up slightly to 7.0%.Last month, Canada's economy added 13,800 jobs - way above expectations of 1,800 - and the unemployment rate unexpectedly fell to 6.9%, the lowest rate since July 2015.Advertisement
However, May's report was also pretty lopsided with an increase of 60,500 in full-time employment but a drop of 46,000 in part-time employment.
Moreover, employment fell by 24,000 in Alberta, with "notable declines" in the natural resources sector."These declines coincided with the wildfires in northern Alberta, which affected business operations in a number of industries, including oil and gas extraction," Statistics Canda noted at the time.
As such, the June labor force report "will shed further light on the impact of the Alberta fires on growth during Q2," noted Deutsche Bank chief economist Darren Gibbs in a note to clients.The Canadian dollar is little changed at 1.3001 per dollar ahead of the June report.Refresh this page for updates at 8:30 a.m. ET.Advertisement
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