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Canada Lost Jobs Again in October: Is Your Emergency Fund Ready?

  CANADIAN MONEY BRIEF • NOVEMBER 7, 2026 A day after the federal budget leaned on a labour market that looks better than a year ago, Statistics Canada delivered a reality check. Canada lost 4,700 jobs in October , and the unemployment rate rose to 6.7% from 6.5%. Economists had expected a gain of about 13,600 jobs and no change in the jobless rate. 6.7% Unemployment rate, up from 6.5% -4,700 Jobs lost in October -110,000 Jobs lost in August and September combined 13.7% Unemployment, ages 15 to 24, up from 13.0% Why this report is worse than the headline On its own, 4,700 is a small number. The problem is the run it follows: 42,000 jobs lost in August and 68,000 in September, making October the third straight monthly decline. BMO senior economist Sal Guatieri put the damage in perspective: Canada has added just 17,000 jobs over the past 12 months, in a year where it would normally create more than 200,000. The weakness has also shifted. Earlier in the year it was mostly the public...
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Smart Money Moves: Avoiding Common Financial Mistakes for a Richer Life




Escaping the Money Trap: Living Within Your Means for a Richer Life

To live a smarter and richer life, it's crucial to identify and rectify common money mistakes that can hinder financial progress. First and foremost, the habit of living beyond one's means must be abandoned. Many people fall into the trap of spending more than they earn, relying on credit cards and loans to maintain a lifestyle they can't afford. By creating a budget and sticking to it, individuals can gain control over their finances, prioritize saving, and avoid drowning in debt. Embracing a more frugal lifestyle and making conscious decisions about spending can lead to substantial savings and financial freedom in the long run.


Seizing the Power of Proactive Financial Planning and Investing

Secondly, procrastination when it comes to investing and saving for the future is a major money mistake that should be stopped. Delaying contributions to retirement accounts and other investment opportunities can significantly impact wealth accumulation due to the compounding effect. Starting early and consistently setting aside a portion of income for investments can help build substantial wealth over time. It's essential to educate oneself about different investment options and seek advice from financial professionals to make informed choices. By breaking the cycle of living paycheck to paycheck and embracing proactive financial planning, individuals can pave the way towards a smarter and more prosperous future.





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