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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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Aid World in Turmoil: USAID Contractors Face Layoffs and Cash Crunch Under Trump Overhaul


In a dramatic shakeup of U.S. foreign assistance, contractors working with the U.S. Agency for International Development (USAID) have been forced to fire staff and grapple with severe cash shortages amid sweeping changes imposed by President Donald Trump. Hours after taking office, Trump ordered a comprehensive review—and subsequent freeze—of nearly all U.S. foreign aid programs. The move, aimed at realigning spending with “America First” priorities, has led to blanket stop-work orders that left hundreds of contractors without incoming payments for approved projects.

Contractors, who normally front project costs and then invoice the government, suddenly found their revenue streams drying up. As a result, companies reported laying off large portions of their workforce and initiating furloughs, with some citing unpaid invoices worth millions of dollars. The financial crunch has not only jeopardized the livelihoods of thousands of aid workers but also threatened critical programs abroad—from nutritional support for malnourished children to life-saving health initiatives.

Critics warn that these abrupt changes risk undermining decades of humanitarian work that has saved millions of lives, while supporters argue that the review is necessary to eliminate waste and ensure that aid spending directly supports U.S. national interests. As the situation unfolds, uncertainty looms over the future of U.S. foreign assistance, with contractors and aid organizations bracing for further disruptions and potential legal battles over lost benefits and unpaid debts.


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