OTTAWA (Reuters) - After some outsized gains and losses in the past five months, most economists expect Canada’s job market to settle down to a pattern of slow growth.
March and April had shown a whopping 140,500-job gain for the two months, and July surprised with a loss of 30,400, with little evidence of accompanying bursts of economic activity or a sudden slowdown.
“Although it is unlikely that the heavy job losses from July continued, we’re not exactly expecting vigorous employment growth,” IHS Global Insight economists Arlene Kish and Jillian Kohut wrote in a note to clients.
They added that the job market would continue to be lethargic, but with slim employment gains.
July’s decline was all in part-time jobs, which dropped by 51,600, while full-time jobs climbed 21,300.
“We’re anticipating jobs to rebound somewhat after last month’s weak showing, with the risk being that the rebound may be mostly in the part-time jobs category after last month’s surprising monster decline,” said Derek Holt and Dov Zigler at Scotiabank.
Editing by Peter Galloway