Analysts at TD Securities are expecting Canada’s labour market to rebound with the creation of 15k jobs in August (market: 20k), following the first consecutive declines since 2014.

• “Details should prove upbeat with a partial recovery in private employment while wage growth is projected to push even higher to 4.7% y/y (market: 4.5%) due in part to base-effects. Lastly, our forecast has the unemployment rate edging lower to 5.6%, helped by modest labour force growth during August.”