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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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China Calls for Dialogue Amid Market Turmoil Following US Tariffs

China has responded to the recent market upheaval caused by U.S. President Donald Trump's tariffs, stating that "the market has spoken" in rejecting the trade measures. The tariffs, which include a 34% levy on Chinese goods, have escalated tensions between the world's two largest economies. In retaliation, China imposed similar tariffs on U.S. goods and introduced export restrictions on rare earth materials.

The global stock markets reacted sharply, with significant losses marking the biggest downturn since the pandemic. The S&P 500, for instance, dropped by 9% over the week. Chinese foreign ministry spokesperson Guo Jiakun emphasized the need for "equal-footed consultation" to resolve trade differences and urged the U.S. to reconsider its approach.

Chinese commerce associations have also called for unity in exploring alternative markets, warning that the tariffs could exacerbate inflation in the U.S. and increase the likelihood of a recession. The trade dispute continues to unfold, with both sides showing no immediate signs of backing down.

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