Analysts at TD Securities are expecting Canada's labour market to bounce back with the creation of 25k jobs in December, in line with the market consensus, for a partial recovery of the 71k jobs lost during the prior month.

• "Goods-producing industries should lead the recovery after bearing the brunt of recent layoffs, while the unemployment rate should retreat to 5.7% from 5.9% as wage growth cools from 4.4% to 4.0% (market: 5.8%, 4.2%, respectively)."