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Budget Day 2026: What a $63B+ Deficit Means for Your Wallet

  Canadian Money Brief • Thursday, November 5, 2026 Ottawa tables its second Carney-era budget today. Almost everyone expects big spending. Hardly anyone expects it to help their own bank account. Here is what the numbers say, and what to do about it. Finance Minister François-Philippe Champagne says today’s budget is about “changing Canada’s growth model”: less reliance on the U.S., more building at home. That is a big-picture pitch. Your household budget is a small-picture problem, and a new Abacus Data poll shows the gap between the two is wide. The poll in one line: only 10% of Canadians expect Budget 2026 to make their household better off. 30% expect to be worse off, and 48% expect little difference. (Abacus Data, 1,809 adults, Oct. 30 to Nov. 3.) The deficit, in plain numbers The Parliamentary Budget Officer (PBO) is the government’s independent fiscal referee. Its latest outlook, which predates the budget and only counts measures already announced, sets the stage: PBO proj...
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Canada's Job Market Soars in December: 91,000 Jobs Added, Surpassing Expectations

 

Canada's economy experienced a remarkable surge in job growth in December 2024, adding an impressive 91,000 jobs, far exceeding economists' expectations of 25,000. This significant increase brought the unemployment rate down to 6.7% from 6.8% in November.

The job gains were primarily in full-time positions, with notable increases in educational services, health care and social assistance, finance, and transportation. The public sector saw the addition of 40,000 jobs, while the private sector added 27,000 jobs. Additionally, the number of self-employed individuals rose by 24,000, marking the first increase since February.

Despite the positive job growth, the average hourly wage rose by 3.8% year-over-year, a slight decline from previous months. Economists have noted that while the job market's performance was better than anticipated, there is still room for improvement, and further interest rate cuts may be necessary to reduce excess capacity in the economy.

Overall, the strong job market performance in December 2024 signals a positive end to the year and raises questions about the Bank of Canada's future interest rate decisions.



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