July employment numbers coming up from Canada on Friday 9 August 2019, at 1230GMT

The two headlines are employment change

  • expected +15K, prior -2.2K

and the unemployment rate,

  • expected 5.5%, prior 5.5%

Summary preview comments via Scotia:

  • year-to-date job creation in 2019 is well down the list of the best years since the inception of the Labour Force Survey in 1976
  • Even though it garners a low weight in the Bank of Canada's preferred wage growth metric-wage common-it will also be worth watching what the LFS says about wage growth

And, via TD:

  • goods-producing sector should provide the main engine for job growth
  • while manufacturing firms may be hesitant to add back workers given ongoing trade tensions, the recent strength of residential construction suggests last month's 7.5k decline should be short-lived
  • we look for details to show a rebound in part-time employment
  • an unchanged 5.5% unemployment rate
  • Wage growth should get more attention than usual