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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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Fragile Ceasefire: Russia and Ukraine Exchange Blows Amid Minerals Deal Ratification

Despite a Moscow-declared 72-hour ceasefire, both Russia and Ukraine reported attacks on their forces, casting doubt on the truce’s effectiveness. The ceasefire, announced by Russian President Vladimir Putin, coincides with the 80th anniversary of the Soviet Union’s victory over Nazi Germany. However, Ukrainian officials accused Russia of violating its own ceasefire hundreds of times within the first few hours.  

Meanwhile, Ukraine’s parliament unanimously ratified a landmark minerals deal with the United States, a move expected to deepen strategic ties and facilitate reconstruction efforts. The agreement grants Washington access to Ukraine’s largely untapped mineral resources and establishes a joint investment fund for rebuilding the war-torn nation.  

Despite the ceasefire, Russian bombs struck northeastern Ukraine, killing at least one civilian, while artillery assaults continued along the 1,000-kilometer front line. Ukrainian Foreign Minister Andrii Sybiha condemned the ceasefire as a “farce,” citing ongoing Russian assault operations.  

As tensions persist, Putin welcomed Chinese President Xi Jinping to Moscow, underscoring Russia’s diplomatic efforts amid the ongoing conflict. Ukrainian President Volodymyr Zelenskyy, skeptical of the ceasefire, dismissed it as mere manipulation, arguing that it serves only to provide Putin with a peaceful backdrop for his Victory Day celebrations.  

With both sides exchanging accusations and hostilities continuing, the prospect of a lasting peace remains uncertain. The minerals deal, however, signals Ukraine’s commitment to strengthening its economic and strategic partnerships despite the ongoing war.

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