Canada: Employment data to attract the most attention - NBF

In Canada, next Friday, the employment report for April will be released.  National Bank of Canada’s analysts expect an increase of 12K in employment. 

Key Quotes:

“Hiring intentions remained high among Canadian businesses in the month but this may have been partially offset by inclement weather which likely disrupted activity in construction and tourism and, in turn, slowed job creation. Our call is for just a 12K increase in employment in the month. The unemployment rate may have edged up to 5.9% if, as we believe, the participation rate rose after having weakened in early 2018.”

“In other news, housing starts may have retreated to 205K in annualized terms in April, hindered by worse-than-normal weather throughout the country.”