07:45 AM EDT, 07/05/2024 (MT Newswires) -- Canada will publish its Labour Force Survey (LFS) for June at 8:30 a.m. ET on Friday, pointed out Bank of Montreal (BMO).

The bank noted that, amid the gyrations in financial markets and economic data, employment trends have been surprisingly uniform, with the three-, six- and 12-month averages not far from 35,000.

BMO is looking for a sub-par 25,000 increase in June, in line with May's, and well below the roughly 50,000 trend growth in the labor force. Accordingly, the jobless rate looks to move up another tick to 6.3% -- with a chance of a two-tick rise-- which would be the highest since 2017 (excluding the COVID-19 pandemic).

The bank will watch hours worked as well to get a better read on how Q2 gross domestic product (GDP) wrapped up after some sizeable year-to-date volatility.

The pan-economy Ivey PMI for June is out at 10 a.m. ET Friday. It was 52.0 in May for a 10-month low.

The US dollar (USD) is softer (BBDXY -0.12%), with the Canadian dollar (CAD or loonie) slightly firmer (CAD per USD -0.03%), according to BMO.