What changed
2026-07-31 13:32 UTC → 2026-07-31 14:28 UTC ·
added
removed
In July 2026 Canada reported that its labor market added 18,200 jobs in June, pulling the unemployment rate down to 6.5%. This modest job growth followed a series of solid macro‑economic gains. Earlier in the month, Statistics Canada noted that May’s data reaffirm Canada’s steady economic expansion. The May 2026 real GDP rose 0.3% month‑on‑month, outpacing beating the 0.2% forecast. forecast, while a revised April gain of 0.6% remains the strongest since July 2025. Growth was driven primarily chiefly by the mining, quarrying and oil‑and‑gas extraction, extraction sector, which expanded 1.0% in May, with the oil‑and‑gas subsector expanding up 0.7% on stronger higher oil‑sands output. Goods‑producing industries saw a 0.6% rise and services grew 0.2%. Revised figures showed April growth at 0.6%, the strongest since July 2025, and a A flash estimate suggested for June GDP increased 0.2%, suggests a further 0.2% increase, implying an annualised second‑quarter growth of about 3.4%, well above the Bank of Canada’s 2.5% target. The central bank kept left its benchmark overnight rate unchanged at 2.25% and signalled on 15 July, signaling a likely hold for the rest remainder of the year as inflation eases. Together, eases and firms adjust to U.S. tariff pressures. Together with earlier reports of a 18,200‑job increase in June and a June unemployment rate of 6.5%, the data updated figures continue to illustrate a trend pattern of steady, modest, above‑forecast economic expansion growth in Canada both output and employment during the first half of 2026, reflected in both output and employment metrics. 2026.