Canada seen adding 15,000 jobs in July
WHAT: Canadian July employment report
WHEN: Friday, August 6 at 7 a.m. EDT
FACTORS TO WATCH:
Recovery: The first look at third-quarter labor market conditions is expected to yield a modest jobs gain after impressive job creation in the first half of the year brought the Canadian labor market close to its pre-recession employment peak.
A gain in July would extend the trend to a seventh straight month, underscoring the economy's quicker and sharper than expected rebound from recession.
The jobs figures have largely contradicted other economic figures in recent months -- including retail sales, existing home sales, and wavering consumer confidence -- that have shown a slowdown from the first quarter. But after stalling in April, economic growth resumed in May, albeit slowly, with gross domestic product rising 0.1 percent.
In the second half of the year, employers may be more cautious about hiring due to expectations of slower growth.
Most analysts do not see a double-dip recession and expect modest employment growth throughout 2010.
Sectors: If job gains are in the private sector, it would suggest the recovery is self-sustaining and not as dependent as it has been on government stimulus. Continued...