02:09 PM EDT, 10/04/2024 (MT Newswires) -- Katherine Judge says the team over at CIBC are looking for an "impressive" gain in employment numbers for September when they are released next Friday. But she adds that would simply reflect a boost from the seasonal adjustment process and the fact that there were fewer jobs than normal to lose in September by students returning to school, as student employment over the summer was particularly weak.

Judge says the Bank of Canada will be more focused on the unemployment rate, which CIBC expects will remain steady. But she adds any increase would likely be enough to result in a 50bps cut in October.

(The CIBC data calendar also has August trade data due out Tuesday; and then August building permits data due out Friday, before the release a couple of hours later that same day of the Q3 Business Outlook Survey and Canadian Survey of Consumer Expectations from the BoC.)

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