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Scotiabank Sees 15,000 Job Losses in November but Says BoC Still on Hold

BY MT Newswires | ECONOMIC | 08:27 AM EST

08:27 AM EST, 12/05/2025 (MT Newswires) -- Canada will release the Labour Force Survey (LFS) for November at 8:30 a.m. ET on Friday, said Scotiabank.

Consensus is for a 2,500 decline for jobs, while the bank estimates 15,000 job losses.

LFS gets revised only once per year, unlike rolling monthly revisions in the United States. As a consequence, it would take a "mammoth" drop to offset the 127,000 jobs created over the prior two months, stated Scotiabank.

The BoC looks at trends, especially for such a "noisy" report, pointed out the bank. The BoC has issued clear guidance that it's done cutting and is on hold at least for a considerable amount of time, barring the emergence of a truly large and sustained shock.

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

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