Canada employment preview
Canada employment preview: analysts expect a 15.0k gain in July jobs, due Friday, after the 31.8k in June. Analysts expect average hourly wages to fall 0.3% in July (m/m, sa) after the 0.3% loss in June, in-line with the usual drop seen in recent months of July (despite being seasonally adjusted, this series has a few recurrent monthly swings.) That would leave the annual growth rate at 3.7% y/y in July from 3.6% y/y in June, but down from the 3.9% pace in May that was the fastest annual growth rate since 2009. The unemployment rate is seen slipping to 5.9% from 6.0%. View the preview and our commentary "Canada Employment to Grow in July" for a full analysis of the risks surrounding July jobs.