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5 Things to Know Today: 68,000 Jobs Lost, a Weaker Loonie and the Oct. 28 BoC Decision

  Oct 12, 2026   Happy Thanksgiving. Canadian markets are closed today, but the numbers that shape your wallet aren't taking the day off. Here are five things to know on Monday, October 12. 1. Canada lost about 68,000 jobs in September, wiping out 2026's gains Statistics Canada reported that employment fell by roughly 68,000 in September, following a 41,700-job drop in August. The unemployment rate edged up to 6.5% from 6.4%. Economists had forecast a small gain. Put the two months together and Canada has lost about 41,200 jobs so far this year, compared with a gain of 211,300 over the same stretch of 2025, according to Reuters. The losses were spread almost evenly between full-time and part-time work and were concentrated in the public sector. Workers aged 15 to 24 lost 48,000 jobs, Quebec shed 49,000, and Ontario's unemployment rate sits at 7.0%, the highest among the large provinces. Average hourly wages were up 2.3% from a year ago. What it means for you: A softening j...
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China's Defiance: A Trade War Escalates


China has vowed to "fight to the end" in response to former President Donald Trump's latest tariff threats, marking a significant escalation in the ongoing trade war between the world's two largest economies. Trump's proposed additional 50% tariff on Chinese imports has been met with strong resistance from Beijing, which has labeled the move as "unilateral bullying" and a "mistake on top of a mistake".

The Chinese Ministry of Commerce has emphasized its commitment to safeguarding the nation's sovereignty and economic interests, hinting at further countermeasures. Meanwhile, the U.S. tariffs on Chinese goods could reach a staggering 104% if implemented, raising concerns about global economic stability.

As tensions rise, stock markets worldwide have shown increased volatility, reflecting fears of a prolonged trade war. Both nations appear steadfast in their positions, with China signaling its readiness to retaliate and Trump warning of the termination of all talks with Beijing. The outcome of this confrontation remains uncertain, but its implications for international trade and economic growth are profound.

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