Canada employment preview
Canada employment preview: analysts expect jobs to rise 5.0k in December after the stunning 79.5k surge in November. The unemployment rate is seen edging up to 6.0% from 5.9%. Broadly, the job market has posted gains since December of 2016 (November 2016 jobs fell 2k). But wage growth remains at a pace that suggest some slack still remains in the labour market, although there has been marked improvement in wage growth recently. Analysts expect average weekly earnings to grow at a 2.9% y/y rate in December after the 2.8% growth ate in November. Earnings have picked-up from the 0.7% y/y pace in April of this year, and are closing in on the 3% or better pace the BoC is looking for. The 79.5k surge in November was unexpected, and appears to be out of synch with the slower GDP growth rate (expected) in the second half of 2017. Hence, analysts rate the risk on this report to the downside. View the full employment report preview for Friday's report.