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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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Canada and U.S. Commit to Strategic Economic and Security Talks

In a significant development, Canada and the United States have agreed to initiate comprehensive discussions aimed at redefining their economic and security relationship. This announcement follows a constructive phone call between Canadian Prime Minister Mark Carney and U.S. President Donald Trump. The talks are set to commence immediately after Canada's federal election on April 28.

Prime Minister Carney emphasized the importance of these negotiations, stating that they will focus on enhancing trade, security measures, and mutual cooperation. President Trump echoed these sentiments, describing the dialogue as "extremely productive" and expressing optimism about the future of bilateral relations.

The discussions will address pressing issues, including retaliatory tariffs and the modernization of trade agreements. Both leaders have pledged to prioritize the interests of their respective nations while fostering a collaborative approach to shared challenges.

This move marks a pivotal moment in Canada-U.S. relations, signaling a commitment to adapt to evolving global dynamics and strengthen their partnership for the years ahead.

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