Canada Employment Preview
Canada Employment Preview: Analysts expect employment to rise 10.0k in September (median same at +10.0k) after the 26.2k bounce in August that came after the 31.2k drop in July. The August gain was fairly broadbased, as goods and services jobs both expanded. Temporary factors lurked in the background of the May, June and July jobs reports. Hence, the August report was perhaps a relative "clean" read on the job market. And that reading was one of gradual improvement that is consistent with no change in policy from the BoC (steady for an extended period). Of course, another gain in employment during September would add to the already convincing outlook for no rate cuts from the BoC (analysts see rate hikes, but not until 2018). Analysts expect the unemployment rate to hold steady at 7.0% in September. Hours worked are expected to rise 0.3% m/m in September after the 0.3% drop in August that cast a pall over the otherwise upbeat August jobs report.