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Scotiabank Says August Payrolls Offer Limited Insight Ahead of Key Jobs Report Next Week

BY MT Newswires | ECONOMIC | 10/30/25 08:16 AM EDT

08:16 AM EDT, 10/30/2025 (MT Newswires) -- Canada will release the August payrolls (SEPH) at 8:30 a.m. ET on Thursday, said Scotiabank.

The bank noted investors will get the Labour Force Survey (LFS) for October on Nov. 7.

Canadian payrolls lag the more important LFS by two months, pointed out Scotiabank.

SEPH payrolls are "not harder" data, which is a common misconception, stated the bank. They are strongly revised every month.

In addition, because they exclude off-payroll employers by definition, they provide a highly incomplete picture of the job market compared with the LFS report.

Scotiabank forecasts payback in next week's LFS with jobs down 25,000 after the large positive surprise in September.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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