Last Friday, Statistics Canada (StatsCan) reported that Canada’s economy fell into a technical recession after contracting for a second straight quarter in the first quarter of 2026. The results suggest Canada’s economy has come under pressure amid trade, geopolitical tensions and higher prices. This week, we will get some insight into Canada’s labour market, another area that is being challenged and weighing on overall growth. Looking abroad, investor attention continues to be on the negotiations of a peace deal between the US and Iran. Here are some key scheduled economic announcements to watch for this week.

• StatsCan will release Canada’s labour market data for May on Friday. Canada’s economy lost 17,700 jobs in April, its third decline across four months in 2026. The unemployment rate increased to 6.9%.
• South of the border, the US will also release its labour market data on Friday. The US unemployment rate sat at 4.3% at the end of April. The US economy has added jobs for two straight months, suggesting some stabilization in the labour market.
• Taking a trip around the globe, Europe’s inflation rate will be announced on Tuesday, China’s business activity on Tuesday night, European services sector activity on Wednesday, European retail sales on Thursday and UK home prices on Friday.
• Notable earnings announcements in Canada include Transcontinental, Descartes Systems Group, Lululemon Athletica and Saputo. Key earnings announcements in the US include HP, Dollar General and Broadcom.

There are quite a few critical economic announcements in Canada and elsewhere, along with the progress on negotiations between the US and Iran, which will drive financial markets’ performance over the week. The economic mood in Canada is relatively tepid given the economic growth results from the first quarter of 2026. However, Canada’s economy has proven its resiliency over time, despite short-term downturns in conditions. 

If you would like to discuss this economic and market update or have questions about your finances and investments, please feel free to contact me anytime.