OTTAWA – Statistics Canada is set to publish new jobs data for July this morning.
A Reuters poll of economists expect the economy added 13,500 jobs last month but that the unemployment rate ticked back up to seven per cent.
June’s jobs report showed an unexpected gain of 83,000 positions.
So far, tariff-sensitive sectors such as manufacturing have largely shed jobs while employers in some other industries continue to expand their payrolls.
The new employment figures will mark the first major data release for July, which BMO Capital Markets says will give forecasters insight into whether hints of economic momentum in June held up to start the third quarter.
The Bank of Canada will be watching the jobs figures carefully after the central bank held its benchmark interest rate steady at 2.75 per cent last week for a third consecutive decision.
