Saturday, September 5, 2026 A wild week wraps up with mixed signals: Canada's job market stumbled just as America's roared back, the TSX gave back some ground, and Tuesday brings a new round of retaliatory tariffs. Here's what actually matters for your wallet. 1. Canada Lost 42,000 Jobs in August — Unemployment Holds at 6.4% Statistics Canada's Labour Force Survey showed employment fell by 41,700 to 42,000 in August, a sharp reversal after July's 75,100-job surge and well short of the roughly 15,000-job gain economists expected. Full-time work took the biggest hit, down about 36,000, while the public sector shed jobs for a third straight month. Manufacturing was the lone bright spot, adding 22,000 positions. The unemployment rate held steady at 6.4% because the labour force shrank too, and wage growth cooled to just 2.0% year-over-year — the slowest pace since 2017 outside the pandemic. WHAT IT MEANS FOR YOU Slower wage growth means smaller raises are more likely ...
The job cuts come as the company faces persistent headwinds including higher interest rates, economic uncertainty, and the ripple effects of geopolitical developments. Enbridge spokeswoman Gina Sutherland confirmed the cuts in an email Tuesday, adding that the company must cut costs and strengthen its competitiveness to weather the near-term challenges.
The job cuts are expected to be made across the organization, but no specifics have been provided on which individual business units or regions would be most affected.
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