CAD: Expect subdued addition of 6k jobs in January – TDS

By FXStreet Research Team at TDS, suggests that the rebound in Canada’s December employment—which was still disappointing in terms of the details—is forecast to be followed by a subdued addition of 6k jobs in January.

Key Quotes

“Paired with an increase in the labour force, the unemployment rate will likely nudge higher to 7.2%. The details of the report should show a rebound in the hospitality sector following a very weak holiday season which will be further supported by increased tourism.

Net job gains are also expected in the utilities sector following several months of retrenchment. On the other side of the spectrum, hiring in the services sector is expected to slip somewhat. Stepping away from the details the wider trend in employment is expected to remain subdued, which is consistent with the generally cautious tone reported in surveys of hiring intentions.”
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Source:: FX Street