Economists expecting labour slowdown in Friday jobs report
BNN Bloomberg
Here's what economists are expecting to see in the latest jobs report that's set to be released by Statistics Canada on Friday.
Experts are forecasting that the Canadian economy added 5,000 jobs in December, according to data tracked by the Bloomberg terminal.
This would mark a continued slowdown in Canada’s job force, after Statistics Canada reported a 10,000 jobs gain in November and a suprise gain of 108,000 jobs in October.
“We're forecasting a 5,000 increase in employment for December and we think unemployment ticked up to 5.2 per cent, from 5.1 per cent in November,” Josh Nye, senior economist at RBC Economics, said in a phone interview on Thursday.
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Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Statistics Canada says retail sales were up 1.1 per cent at $70.7 billion in January, led by sales at motor vehicle and parts dealers.
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