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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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Trump Orders Expansion of Migrant Facility at Guantanamo Bay

In a move that has sparked significant debate, President Donald Trump announced on Wednesday that he will sign an executive order instructing the Pentagon and the Department of Homeland Security to prepare a migrant facility at Guantanamo Bay. This directive aims to expand the existing Migrant Operations Center to full capacity, providing additional detention space for high-priority criminal aliens unlawfully present in the United States.

Trump's announcement came during the signing ceremony for the Laken Riley Act, an immigration detention measure. He emphasized the need to halt what he described as a "border invasion" and mentioned that the facility at Guantanamo Bay has 30,000 beds to detain the worst criminal illegal aliens. Homeland Security Secretary Kristi Noem supported the move, stating that resources could be established for the "worst of the worst" at Guantanamo Bay.

The decision to use Guantanamo Bay, a site historically associated with the detention of terrorism suspects, has raised eyebrows and concerns among various officials and human rights advocates. The facility, which became a detention site in 2002 under President George W. Bush, has been a contentious issue for years, with former Presidents Joe Biden and Barack Obama both attempting to shut it down during their terms.

The announcement has caught many officials at the Pentagon off guard, with some expressing uncertainty about the number of beds currently available for migrants and whether this would be a short- or long-term mission. The move is part of Trump's broader efforts to crack down on illegal immigration, which has been a central theme of his political career.


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