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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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US, Colombia Reach Agreement on Deportations; Tariffs and Sanctions Suspended

 

The United States and Colombia have reached a significant agreement regarding deportations, averting a potential trade war. The White House announced on Sunday that Colombia agreed to accept deported migrants on U.S. military aircraft, reversing its earlier refusal. In response, the U.S. has decided to hold off on imposing threatened tariffs and sanctions.

President Donald Trump had initially threatened 25% tariffs on Colombian goods and other sanctions after Colombia declined to accept deportation flights. However, Colombian President Gustavo Petro agreed to accept the migrants, ensuring that the tariffs and sanctions will remain on hold.

Colombian Foreign Minister Luis Gilberto Murillo stated, "We have overcome the impasse with the U.S. government. The Colombian government has also prepared the presidential plane to facilitate the return of deported Colombians.

The agreement highlights the importance of cooperation between the two nations, with Colombia being the third-largest U.S. trading partner in Latin America. The U.S. is Colombia's largest trading partner, with a significant trade relationship established by a 2006 free trade agreement.

The White House emphasized that this agreement demonstrates America's respected position on the global stage and expects other nations to cooperate in accepting deported citizens.




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