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Canada Lost 68,000 Jobs. A Rate Hike May Still Be Coming. Is Your Budget Ready?

Canadians got an unwelcome surprise on Friday. Statistics Canada says the economy lost 68,300 jobs in September , following a loss of 41,700 in August. Economists polled by Reuters had expected a gain of about 9,200. The unemployment rate rose to 6.5% , from 6.4% in August. Here's what makes this tricky for your wallet. Weak jobs numbers would normally point to lower interest rates. But with inflation at 3.0% and energy prices elevated, the Bank of Canada is still weighing a rate hike , with its next decision on October 28 . Your paycheque and your borrowing costs are both facing pressure at the same time. What the September numbers say Measure August September Change in employment −41,700 −68,300 Unemployment rate 6.4% 6.5% Wage growth (permanent employees, year over year) 2.0% 2.3% Source: Statistics Canada Labour Force Survey, as reported by Reuters and The Canadian Press (Oct. 9, 2026). Rounded figures in some outlets show −68,000 and −42,000. The pain wasn't spread evenly....
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Wall Street Ends Tumultuous Week on a High Note

 

Wall Street wrapped up a volatile week with a positive finish, as major U.S. stock indexes rebounded on Friday. The Dow Jones Industrial Average climbed 1.6%, the S&P 500 rose 1.8%, and the tech-heavy Nasdaq Composite gained 2.1%. 

This recovery followed a week of dramatic swings, largely driven by escalating trade tensions between the United States and China. President Trump's tariff policies created uncertainty in the markets, with reciprocal tariffs reaching as high as 145% on Chinese imports. Despite the turbulence, optimism emerged after the White House hinted at potential progress in trade negotiations.

Investors remain cautious, as the broader market is still down year-to-date. However, Friday's gains provided a much-needed boost to close out a rollercoaster week on a hopeful note.

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