07:01 AM EDT, 03/23/2026 (MT Newswires) -- Economic data releases in Canada are quiet this week, with the most notable being January's Survey of Employment, Payrolls and Hours (SEPH) on Thursday, when RBC expects further stabilization in job vacancies following improvements in timelier job openings data from Indeed Hiring Lab.

February's labor market report was weak, with the unemployment rate rising to 6.7%. However, layoffs remained low and the unemployment rate was still below 7% in Q3, and 6.8% in Q4 2025, noted the bank.

Solid domestic demand beneath weak headline gross domestic product in Q4 2025 should continue to support a rebound in hiring early this year. RBC still looks for the unemployment rate to gradually decline to 6.3% by the end of 2026.

Investors will also receive advance February industry data that should show a partial rebound after disruptions in the auto industry drove large declines in January.

Manufacturing sales dropped 3.9% month over month due to a significant decline in transport equipment sales from atypical production disruptions at several Ontario plants.

Wholesale sales also fell 1.5% month over month in January. Some moderation in production disruptions should support a partial rebound in February sales with manufacturing on Tuesday and wholesales on Friday, according to the bank.