The Daily Canuck 26.06.2026

Research evidence excerpt

The Daily Canuck 26.06.2026

Canada | Financials EquityJuneResearch26, 2026

Figure 1 - Canada Average Weekly Earnings (inThe Daily Canuck 26.06.2026

C$)

As we head toward the start of summer holiday season, positive employment 1,4001,200 14%12%

signs with employment (payroll) up in April, but this was offset by the fact 1,000800 10%8%

600 6%that hours worked remained steady. CUSMA negotiations continue in the

400 4%

200 2%background, but we continue to believe that a resolution remains beyond the

near term. (200)0 0%(2%)

Jan-01 Jan-06 Jan-11 Jan-16 Jan-21 Jan-26

Y/Y % Chg Wkly Earnings (C$ - LS)

.

What you need to know: Source: Statistics Canada, Jefferies

Yesterday, Statistics Canada reported that payroll employment rose modestly by 22,000•

(+0.1%) in April, with gains in health care, public administration, and support services offset by

declines in professional services, manufacturing, and construction. Average weekly earnings

increased to $1,346 (+1.0% m/m; +3.8% y/y), while hours worked were unchanged. Job

vacancies remained stable at 490,500 but declined 3.4% y/y, lowering the vacancy rate to

2.7%. Labour market conditions softened slightly, with 3.2 unemployed persons per vacancy.

Sectoral vacancy declines were led by construction and professional services, while retail trade

saw gains. Ontario’s vacancy rate decreased, and northern regions continued to report the

highest rates.

Headlines

RY: Royal Bank of Canada ordered to pay $4.25M penalty for consumer violation (BNN)

Yesterday, BNN reported that RBC was fined $4.25M by the FCAC for failing to properly transfer

credit balances when closing and replacing credit card accounts after fraud cases. The issue

impacted 227,947 accounts from 2001 to 2024, leading to inaccurate statements and extra charges