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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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Cardinals Prepare for Papal Conclave Amid Calls for Unity

The Vatican has announced that the conclave to elect the next pope will commence on May 7. This decision follows the funeral of Pope Francis, who led the Roman Catholic Church for 12 years before his passing on April 12. 

The College of Cardinals, comprising 135 electors under the age of 80, will gather in the Sistine Chapel for the secretive voting process. A two-thirds majority is required to elect the new leader of the Church, which has an estimated 1.4 billion followers worldwide. 

In the days leading up to the conclave, cardinals from diverse corners of the globe are engaging in informal meetings to foster familiarity and consensus. Many of these cardinals were appointed by Pope Francis and have had limited opportunities to interact, adding an element of unpredictability to the proceedings. 

The conclave is expected to reflect the Church's ongoing dialogue between progressive and conservative factions. While some cardinals emphasize continuing Francis' focus on social justice, others advocate a return to traditional doctrines. 

The conclave's outcome will shape the future direction of the Church, as cardinals navigate the delicate balance of unity and diversity within its leadership. 

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