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5 Things to Know Today: 68,300 Jobs Lost, Loonie at 18-Month Low, BoC Hike Odds Fade

  CANADIAN MONEY BRIEF | SATURDAY, OCTOBER 10, 2026 Canada's job losses pile up, the loonie slides to an 18-month low and the Bank of Canada's rate-hike case weakens. Here's what matters for your wallet this long weekend. 1 Canada lost 68,300 jobs in September Statistics Canada reported 68,300 fewer jobs in September, far worse than the roughly 9,200 gain economists polled by Reuters expected. The unemployment rate rose to 6.5% from 6.4%. It follows a 41,700 drop in August, which means Canada has now lost a net 41,200 jobs in 2026 (versus a gain of 211,300 at this point last year). Education plus health care and social assistance lost 58,400 jobs, manufacturing fell by 12,700 and youth employment (ages 15 to 24) dropped by 48,000. The participation rate slid to 64.8%, its lowest in 29 years outside the pandemic. What it means for you: Average hourly wages for permanent employees rose 2.3% year over year, which is slower than August inflation of 3.0%. If your pay isn'...
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U.S., Britain, and Australia Consider Expanding AUKUS Security Pact to Counter China’s Influence

 

The United States, the United Kingdom, and Australia are poised to engage in talks aimed at broadening their AUKUS security pact. This move comes as Washington advocates for Japan’s inclusion in the pact as a strategic measure against China’s growing assertiveness in the Indo-Pacific region.

The AUKUS pact, unveiled by the three nations in 2023, represents their collective efforts to curb China’s increasing influence. It encompasses joint initiatives related to quantum computing, undersea capabilities, hypersonic technology, artificial intelligence, and cyber advancements. These areas fall under the pact’s “pillar two” commitment.

The upcoming talks will explore the possibility of bringing new members into the AUKUS fold. While the first pillar of the pact focuses on delivering nuclear-powered attack submarines to Australia, the second pillar aims to foster technological collaboration among the member countries. Japan’s involvement is seen as crucial in countering China’s military buildup and territorial ambitions.

China has expressed concern over the AUKUS pact, labeling it as dangerous and warning of a potential arms race in the region. U.S. Deputy Secretary of State Kurt Campbell emphasized that the AUKUS submarine project could serve as a deterrent against any Chinese aggression toward Taiwan, a democratically governed island that Beijing claims as part of its territory.

President Joe Biden has actively sought to strengthen partnerships with Asian allies, including Japan and the Philippines. His administration aims to bolster regional security and stability amid China’s geopolitical maneuvers. In the coming days, Biden will host Japanese Prime Minister Fumio Kishida in Washington and convene a trilateral summit, which will also include Philippine President Ferdinand Marcos Jr.

As geopolitical dynamics continue to evolve, the international community closely watches how these diplomatic efforts unfold and their impact on the delicate balance in the Indo-Pacific theater.


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