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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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Ontario Breathes Again: Record Heat Streak Ends with Cool Relief and Rain

 

This latest bout of sweltering temperatures marks the sixth time the Greater Toronto Area has been under a heat warning this year.


After more than two months of relentless heat, parts of Ontario finally caught a break this week as a refreshing cool-down swept across the province. Monday marked the first time in 65 days that several major cities, including Toronto, Hamilton, and Ottawa, recorded daytime highs below 22°C.

The shift came courtesy of a low-pressure system moving in from the west, delivering cooler air and much-needed rain. Some areas saw steady showers, with rainfall totals ranging from 10–20 mm, and localized downpours topping 50 mm under heavier storms.

The cooler spell is expected to linger through Wednesday, with temperatures sitting a couple of degrees below seasonal norms. By Friday, however, summer warmth will make a comeback, with highs climbing back into the upper 20s.

The Great Lakes, meanwhile, remain unusually warm for mid-August — up to 3°C above average in some spots — a lingering effect of the season’s prolonged heat.

For now, Ontarians are enjoying a rare taste of “natural air conditioning” before the next wave of summer heat rolls in.

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