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REPEAT: CANADA DATA: MNI PREVIEW: June Labor Force...>

CANADA DATA
CANADA DATA: REPEAT: MNI PREVIEW: June Labor Force Survey -- Fri 8:30 EDT
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- MNI Median +675K jobs vs. prior surprise of +290K.
- MNI Median 12.1% unemployment rate, prior was record 13.7%.
- Investors should track hours worked as barometer of recovery over jobs data
still showing ambiguity between temporary and permanent layoffs, and people with
a job but reduced hours.
- May LFS report gained mainly on Quebec reopening, with Ontario expected to
contribute the most to June.
- Even with expected gain, employment still way down from 3m jobs lost in
March/April.
- Scale of openings will remain restricted; tourism and entertainment still
under pressure, so 2Q expected to show a slower rebound.

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