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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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White House Announces Reciprocal Tariffs Set to Take Effect Wednesday

The White House has confirmed that reciprocal tariffs will be implemented starting this Wednesday, marking a significant shift in U.S. trade policy. These tariffs, described as "reciprocal," aim to match the duties imposed by other nations on American exports. The move is part of a broader strategy to address trade imbalances and encourage domestic manufacturing.

President Trump has referred to this initiative as "Liberation Day," emphasizing its role in protecting U.S. industries. While details about the specific countries and products affected remain unclear, the administration has indicated that the tariffs will target nations contributing significantly to the U.S. trade deficit.

The announcement has already sparked reactions from global markets and trade partners. Countries like Canada, China, and members of the European Union have hinted at potential countermeasures, raising concerns about escalating trade tensions. Economists warn that the tariffs could have mixed effects, potentially boosting some domestic industries while straining international relations and consumer prices.

As the world watches, the full impact of these tariffs will unfold in the coming weeks, shaping the future of global trade dynamics.

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