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5 Things to Know Today: Job Losses, a Sliding Loonie and Budget 2026 (Nov. 7)

  Canadian Money Brief · Saturday, November 7, 2026 Canada’s job losses stretched to a third month, the loonie took its biggest one-day hit since January, and the federal budget landed with a few items for your wallet. Here’s what to know today. 1 Canada’s job market has now lost jobs three months in a row Statistics Canada said the economy shed 4,700 jobs in October, well short of the gain of about 13,600 economists expected. The unemployment rate rose to 6.7% from 6.5%, a six-month high. That follows losses of 42,000 in August and 68,000 in September, and the country has added just 17,000 jobs over the past 12 months. Alberta lost 24,000 jobs, youth unemployment climbed to 13.7%, and average hourly wages were up only 2.2% from a year earlier. What it means for you: Wages are rising 2.2% a year while September inflation was 3.1%, so paycheques are losing ground. If your income feels less certain, this is a good week to check that your emergency fund covers three to six months of ...
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Amazon Prime Day Sales Projected to Reach $14 Billion: A Shopping Extravaganza

 

Shoppers are gearing up for Amazon’s annual Prime Day, a two-day shopping event that’s expected to break records. According to projections from Adobe Analytics, a firm specializing in e-commerce transaction data, consumers are likely to spend approximately $14 billion during this year’s Prime Day.

What to Expect:

  • Date: Prime Day typically takes place in July, but this year, Amazon shifted it by five days on the calendar.
  • Sales Momentum: Day 1 of Prime Day 2023 already set a sales record, although Amazon doesn’t disclose total figures. Last year, shoppers spent $12.7 billion during Prime Day, a 6.1% increase from the previous year.
  • Back-to-School Bargains: Prime Day has become a season for savvy shoppers seeking deals on back-to-school essentials like clothing, electronics, and dorm supplies.
  • Competition: Rivals like Walmart and Target are launching their own July discounts to compete with Amazon’s shopping extravaganza.
  • Consumer Behavior: After years of high inflation, shoppers are now more willing to spend, using Prime Day as an opportunity to shop for back-to-school items.

In summary, Prime Day isn’t just about discounts; it’s a retail phenomenon that transforms July into a bargain-hunting season. As consumers flock to Amazon, other retailers are vying for a slice of the $38.8 billion projected to be spent on back-to-school merchandise this summer. So, get ready to click and save during this shopping bonanza! 

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