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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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Carney and Trump Fast-Track Economic and Security Deal Amid G7 Summit

Canadian Prime Minister Mark Carney and U.S. President Donald Trump have agreed to accelerate negotiations on a new economic and security agreement, aiming to finalize the deal within 30 days. The announcement comes as the two leaders meet on the sidelines of the G7 Summit, where discussions have centered on trade, border security, and critical minerals.

Carney, who campaigned on reducing U.S. tariffs on Canadian exports, is pushing for a deal that eliminates trade barriers, while Trump insists that tariffs must remain part of the framework. Despite their differing views, both leaders expressed optimism about reaching an agreement, with Trump stating that a deal is "achievable".

The negotiations have intensified in recent weeks, with Canadian officials working closely with their American counterparts to find common ground. However, concerns remain that the U.S. may not be in a rush to finalize the agreement, despite the ambitious timeline.

As talks progress, the outcome of these negotiations could reshape the economic relationship between Canada and the U.S., impacting industries ranging from steel and aluminum to border security and defense cooperation. With the clock ticking, both sides are under pressure to bridge their differences and secure a deal that benefits both nations.

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