FXStreet (Mumbai) – Temporary hiring that the federal election resulted in had caused employment to rise significantly in October. Canadian jobless rate fell to 7.0 per cent in October of 2015 from 7.1 percent in the months before. The weakness in the labour market is however expected to return in November. Canada’s job market probably suffered a loss of 15k jobs. This loss in jobs will probably push the unemployment rate higher to 7.1%. Statistics Canada will report Canada’s unemployment rate today.
The partial unwind of October’s employment jump will likely restrain the longer-term trend in employment. Recent surveys revealed hiring intentions across sectors highlights continued caution.
(Market News Provided by FXstreet)