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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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Russia Launches Largest Drone Strike on Ukraine Amid Escalating Conflict

In a dramatic escalation of hostilities, Russia launched 479 drones and 20 missiles in an overnight assault on Ukraine, marking the largest drone strike since the war began over three years ago. The attack primarily targeted central and western Ukraine, with Ukrainian air defenses managing to intercept 277 drones and 19 missiles before they could reach their destinations. Despite these efforts, 10 projectiles successfully hit their targets, leaving one person injured.

The aerial bombardment comes as Russia intensifies its ground offensive along the 1,000-kilometer front line, particularly in the eastern and northeastern regions. Ukrainian President Volodymyr Zelensky described the battlefield situation as "very difficult", reiterating Ukraine’s urgent need for Western military support, especially air defense systems.

Meanwhile, Ukraine has continued its counteroffensive, claiming a special operation at Savasleyka airfield in Russia’s Nizhny Novgorod region, where two Russian fighter jets were reportedly struck. The Kremlin has yet to comment on the incident.

Despite recent peace talks in Istanbul, negotiations have yielded little progress beyond agreements on prisoner exchanges and the return of fallen soldiers. As both sides continue their military campaigns, the prospect of a ceasefire remains uncertain.


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