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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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Canadian Ministers Discuss Border Security with Trump's Team in Florida

 

Two senior members of the Canadian federal cabinet, Finance Minister Dominic LeBlanc and Foreign Affairs Minister Mélanie Joly, recently visited Florida to discuss Canada's new $1.3 billion border plan with members of Donald Trump's transition team. The meeting took place at Mar-a-Lago, where the ministers met with Howard Lutnick, Trump's nominee for commerce secretary, and Doug Burgum, the former governor of North Dakota and current nominee for secretary of the interior.

The ministers shared few details about their meetings, simply stating that the U.S. officials took notes and agreed to relay messages to Trump. The discussions focused on strengthening border security and combating the harm caused by fentanyl to save Canadian and American lives. The ministers emphasized the negative impacts of Trump's threatened tariffs on both Canada and the U.S., and agreed to continue the discussions in the coming weeks.

This visit comes less than four weeks before Trump is sworn in again as president, and amid his threats to impose a new 25 percent import tariff on Canada and Mexico over concerns about trade imbalances, illegal drugs, and migration issues at the borders. The broad strokes of Canada's new border plan were made public on December 17, including a new aerial intelligence task force to provide round-the-clock surveillance of the border, and improved efforts using technology and canine teams to seek out drugs in shipments leaving Canada.

LeBlanc and Joly's visit follows a dinner between Prime Minister Justin Trudeau and President Trump last month, where Trump first raised the notion of Canada becoming the 51st state. While LeBlanc has repeatedly insisted that this comment was just a joke, Trump has continued to make similar remarks on social media.


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