8 Jun 2015
Canadian job creation set to decelerate – TDS
FXStreet (Barcelona) - According to Jonathan Bendiner, Economist at TD Securities, their proprietary indicator suggests the labour market remains weaker than what the heading reading suggests.
Key Quotes
“Canada's job market surprised on the upside. And, while TD's Labour Market Indicator (which captures a broader measure of labour market health than the unemployment rate) still points to a weaker labour market than the headline reading suggests, the gap between the LMI and the unemployment rate has narrowed to its smallest difference in almost a year.”
“Looking ahead, job creation in Canada is forecast to decelerate as 2015 progresses. With an outright contraction in real GDP in Q1, the hit to the Canadian economy from lower oil prices was stronger than previously anticipated.”
“What's more, economic activity is projected to remain weak in Q2 with real GDP growth not forecast to return to above 2% (annualized growth) until the second half of 2015.”
“As such, we expect employers to increasingly focus on extracting efficiency gains through the remainder of this year.”
Key Quotes
“Canada's job market surprised on the upside. And, while TD's Labour Market Indicator (which captures a broader measure of labour market health than the unemployment rate) still points to a weaker labour market than the headline reading suggests, the gap between the LMI and the unemployment rate has narrowed to its smallest difference in almost a year.”
“Looking ahead, job creation in Canada is forecast to decelerate as 2015 progresses. With an outright contraction in real GDP in Q1, the hit to the Canadian economy from lower oil prices was stronger than previously anticipated.”
“What's more, economic activity is projected to remain weak in Q2 with real GDP growth not forecast to return to above 2% (annualized growth) until the second half of 2015.”
“As such, we expect employers to increasingly focus on extracting efficiency gains through the remainder of this year.”