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Weekly Market Snapshot: Records Everywhere as a Blowout Canadian Jobs Report Meets a Shock U.S. Loss

  August 8, 2026 A short, holiday-shortened week still managed to deliver record after record. The TSX, the S&P 500, the Nasdaq, and Europe's major indices all closed the week at or near all-time highs — even as Friday's jobs numbers told two very different stories on either side of the border. Here's everything that moved your money this week, and what to watch next. The Bottom Line The TSX capped its biggest weekly advance in about four months, closing Friday at a record 36,381.23 after Canada added a blowout 75,100 jobs in July (versus 17,800 expected). Wall Street also hit fresh records — but for the opposite reason: US employers unexpectedly cut 23,000 jobs, which markets read as reducing the odds of any further Fed rate hikes. Add in a fourth straight record close for European stocks, a wild swing in oil, and gold pushing toward US$4,400/oz, and it was a week where almost every major asset class ended up higher. 🇨🇦 Canada: TSX's Best Week Since April Canadia...
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Canada’s Youth Grapple with AI Disruption and Vanishing Entry-Level Jobs

                                   A record 54,000 people signed up for a summer job fair held in Toronto this July.

Young Canadians are facing their toughest job market in over a decade, with unemployment among 15- to 24-year-olds climbing to levels typically seen only during recessions. A surge of more than 5.5 percentage points since mid-2022 has pushed the youth jobless rate to 14.6% — the highest since 2010 outside of the pandemic years.

Reports from Indeed Canada and CIBC Economics point to a troubling convergence of factors: shrinking availability of junior roles, increased competition from international students and non-permanent residents, and the rapid adoption of automation and AI in sectors traditionally employing young workers. Industries like retail, business support services, and even parts of the tech sector are increasingly replacing entry-level positions with self-checkouts, AI tools, and other labour-saving technologies.

Economists note that while population growth pressures may ease, the technological shift could have lasting effects on early career opportunities. Past waves of innovation eventually created new roles, but for now, many young Canadians are struggling to find the foothold they need to start their careers.

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