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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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Air Canada Flight Attendants Overwhelmingly Reject Wage Offer, Sending Dispute to Mediation

 

Air Canada flight attendants hold a silent protest at Montreal-Pierre Elliott Trudeau International Airport in Montreal, Monday, Aug. 11, 2025



Air Canada’s more than 10,000 flight attendants have voted decisively against the wage portion of a tentative agreement that ended last month’s strike, with 99.1% rejecting the offer. The deal, reached on August 19 after a disruptive work stoppage, included wage increases and new pay provisions for time spent on the ground, but union members said the proposed raises fell short of addressing cost-of-living concerns.

While most elements of the agreement — including pension rules, health benefits, vacation terms, and ground pay — are now considered final, wages will move to mediation as previously agreed by both Air Canada and the Canadian Union of Public Employees (CUPE). If mediation fails, the matter will proceed to binding arbitration.

The rejected proposal had offered junior flight attendants a 12% salary increase this year and senior members an 8% bump, followed by smaller annual raises through 2028. It also introduced partial pay for pre-flight duties, starting at 50% of the hourly rate and rising to 70% over four years.

Despite the setback, there will be no strike or lockout during the mediation process, and Air Canada says flights will continue to operate as scheduled.


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