Canada likely to have added 25k jobs in April, jobless rate to remain unchanged at 5.8 pct

Canadian employment data for April is set to be released tomorrow. According to a TD Economics research report, Canada is expected to have added 25k jobs in April with job growth skewed towards full-time workers. While fulltime employment has seen considerable rises over the past year, its share of total employment continues to be below pre-crisis levels and has room to rise.

April is also one of the most solid months for full-time job growth, performing better than part-time by almost 30k on average since the crisis. In the meantime, wages are expected to have risen to 3.3 percent year-on-year on positive base-effects matching the seven-year high and consistent with the latest SEPH data.

“We also expect the unemployment rate to hold at the cycle low of 5.8 percent, with risks tilted towards an improvement to 5.7 percent”, added TD Economics.

At 22:00 GMT the FxWirePro's Hourly Strength Index of Canadian Dollar was highly bullish at 100.471, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at -10.8919. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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