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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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Trudeau's Leadership in Question as Conservatives Push for No-Confidence Vote

In a dramatic turn of events, Prime Minister Justin Trudeau's future as the leader of the Liberal Party is increasingly uncertain. Gerald Butts, a former chief adviser and close friend of Trudeau, has publicly stated that he believes Trudeau is unlikely to lead the party into the next election. This sentiment has been echoed by several Liberal MPs, especially following the unexpected resignation of Finance Minister Chrystia Freeland.

The political landscape in Canada is heating up as the Conservative Party, led by MP Jonathan Williamson, has announced plans to initiate a no-confidence vote against Trudeau's government. This motion is set to be introduced at a public accounts committee meeting on January 7, with the potential for a full House of Commons vote by January 30. The Conservatives are not alone in their push for change; NDP Leader Jagmeet Singh has also expressed his intention to support the no-confidence motion.

The resignation of Freeland has dealt a significant blow to Trudeau's leadership, with many political analysts predicting an early election in the spring of 2025. The Liberal Party is now faced with the challenge of either rallying behind Trudeau or preparing for a leadership race to find a new candidate to lead them into the next election.

As the political drama unfolds, Canadians are bracing for what could be a pivotal moment in the nation's political history. The outcome of the no-confidence vote and Trudeau's decision on whether to stay or step down will undoubtedly shape the future of Canadian politics.



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