Friday's Jobs Report Matters Little to The Bank of Canada, Says Scotiabank

07:51 AM EST, 11/07/2025 (MT Newswires) -- Canada updates job market conditions with the Labour Force Survey (LFS) for October at 8:30 a.m. ET on Friday, said Scotiabank.

Friday's figures are one of two sets of readings before the next Bank of Canada decision on Dec. 10, which dampens some of its significance to markets, stated Scotiabank.

So does the fact that the BoC just set a very high bar against returning with further easing in its latest communications, noted the bank.

After a surprise 60,000 jobs were created in September, it's reasonable to expect some payback in the context of present macroeconomic uncertainties, added Scotiabank. Much of that gain was narrowly focused on Alberta, but had otherwise solid details, even if the gain in manufacturing jobs was kind of "sus."

The bank estimates a loss of about 25,000 in October. The unemployment rate may be stable through offsetting effects on the pool of labor.

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