We’ll get insight into the state of the Canadian labour market when the latest employment figures are released this morning at 8:30 a.m. EST. On average, economists are expecting that the economy added 10,000 jobs in November, which is significantly lower than the massive jobs growth of 108,300 reported in October. The unemployment rate is expected to come in higher at 5.3 per cent last month compared with 5.2 per cent in October. Canada’s central bank will be paying close attention to the data as it prepares for its next interest rate decision next Wednesday. Meanwhile, south of the border, economists expect the U.S. economy to have added 200,000 jobs in November, which would be a decrease from the 261,000 it added in October.

WTI HOLDS ABOVE US$81 A BARREL

The price of West Texas Intermediate is holding above US$81 per barrel, after falling to US$76 per barrel last week over rising concern about demand out of China. That puts the commodity on course for its biggest weekly gain in nearly two months. The jump in prices comes ahead of an OPEC+ meeting this weekend where members will meet virtually to discuss supplies and the next phase of production policy.

OUTGOING ENBRIDGE CEO ON INDUSTRY TRANSITION

Don’t miss Tara Weber’s interview with outgoing Enbridge CEO Al Monaco at 11 a.m. EDT. After nearly three decades at the company and 10 years in the top job, he is set to retire at the end of the month. Monaco reflects on his time at the energy firm and how the industry has changed.

OTHER NOTABLE STORIES

  • Canadian Western Bank closes out a busy week in bank earnings with a miss on the top line, while earnings on an adjusted basis met analyst expectations
  • The U.S. Environmental Protection Agency has made a formal recommendation to restrict the disposal of mining waste in Alaska’s Bristol Bay region, which would prevent plans for a copper and gold mine by Pebble Limited Partnership due to the regions successful sockeye salmon industry. Pebble is a subsidiary of Vancouver-based Northern Dynasty Minerals, which has been looking to mine in the area for more than two decades
  • Tesla has delivered the first of its all-electric semitrailer trucks to PepsiCo, five years after CEO Elon Musk first unveiled the vehicle
  • Bloomberg is reporting Goldman Sachs has warned its traders they may see a cut to their year-end bonuses despite trading revenue increasing

NOTABLE RELEASES/EVENTS

  • Notable data: Canadian Employment Report, U.S. Jobs Report
  • Notable earnings: Canadian Western Bank, Goodfood
  • 1000: Canadian Western Bank conference call