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June Jobs Report: What It Means for the Bank of Canada's July 15 Decision

  Friday, July 10, 2026 Statistics Canada releases its June Labour Force Survey today, and the timing couldn't matter more. This is the last major economic data point before the Bank of Canada's next interest rate decision on July 15, 2026 — and whichever way the jobs numbers break, they'll shape what happens to borrowing costs for the rest of the summer. What Economists Are Expecting Consensus forecasts point to a modest but positive jobs report. Economists expect Canada added around 10,000 jobs in June, with the unemployment rate holding steady at 6.6%. That would follow a much stronger May, when the economy added 88,000 jobs and the unemployment rate actually fell by 0.3 percentage points. In other words, June's report is expected to show a cooling-off after May's surprise strength — not a reversal, but a return to a more modest pace of hiring. Indicator May 2026 June 2026 (Forecast) Net Employment Change +88,000 jobs +10,000 jobs (expected) Unemployment Rate 6....
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Trump's Transition Team Plans to End Biden's EV Tax Credit

President-elect Donald Trump's transition team is planning to eliminate the $7,500 consumer tax credit for electric vehicle (EV) purchases, a key component of President Joe Biden's Inflation Reduction Act. This move is part of broader tax-reform legislation aimed at reshaping U.S. energy policy.

The decision to end the EV tax credit could have significant implications for the U.S. EV market, particularly for automakers relying on the subsidy to compete against established players like Tesla. While Tesla CEO Elon Musk has indicated that the removal of the credit might slightly impact Tesla's sales, he believes it would be devastating for other U.S. EV competitors.

The energy-policy transition team, led by billionaire oilman Harold Hamm and North Dakota Governor Doug Burgum, views the consumer EV credit as an easy target for elimination. The team believes that removing the credit would gain broad consensus in a Republican-controlled Congress and help offset the cost of extending Trump's original tax cuts.

As the transition team continues to meet and discuss these changes, the future of U.S. clean energy policies remains uncertain. The potential repeal of the EV tax credit highlights the ongoing debate over the direction of America's energy and environmental strategies under the incoming administration.

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