Next Thursday, the Canadian employment report will be released. Analysts at National Bank of Canada expect a gain of 10,000 in jobs in March.
“In Canada, March’s Labour Force Survey will be watched closely. The job market has been extraordinarily strong recently, with headcounts expanding by 350,000 over the past 6 months. And while signs of an upcoming reversal remain few and far between, we think such a pace is unsustainable in the medium term.”
“We thus expect more modest gains in the coming months, starting with a +10K result in March. Despite this gain, and assuming that the participation rate remained unchanged at 65.7%, the unemployment rate could still increase by one tenth to 5.1%, the result of yet another sharp expansion of the labor force.”
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