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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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Carney and Trump Set to Meet Amid Renewed Diplomatic Focus

 

Prime Minister Mark Carney and U.S. President Donald Trump are preparing for their first in-person meeting following a phone call on Tuesday. The conversation, which came shortly after Carney's election victory, emphasized the importance of Canada and the United States collaborating as independent, sovereign nations. Both leaders agreed to work together for mutual benefit and to meet in the near future.

This meeting comes at a pivotal time, as Carney's government navigates a minority mandate and ongoing trade tensions with the U.S. The discussions are expected to address key issues, including tariffs on Canadian exports and broader economic cooperation.

Carney's victory speech highlighted his commitment to uniting a divided Canada and fostering stronger ties with international partners. The upcoming meeting with Trump will likely set the tone for future Canada-U.S. relations.

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