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CANADA: Analyst Expectations For September Jobs Report [1/2]

CANADA
  • There's a wide range of employment growth estimates for tomorrow's Canadian labour report for September, in part because of the recent distortion from youth summer jobs.
  • The unemployment rate (6.63% in August) is likely an important metric with the market viewing the Oct 23 decision as a coin toss between a fourth consecutive 25bp cut or an upsized 50bp despite the hawkish adjustment in Fed pricing seen since last week's payrolls report. 
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  • There's a wide range of employment growth estimates for tomorrow's Canadian labour report for September, in part because of the recent distortion from youth summer jobs.
  • The unemployment rate (6.63% in August) is likely an important metric with the market viewing the Oct 23 decision as a coin toss between a fourth consecutive 25bp cut or an upsized 50bp despite the hawkish adjustment in Fed pricing seen since last week's payrolls report.