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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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Alberta Premier Warns Against Escalation Amid Labour Action Threats

 

                                            Alberta Premier Danielle Smith arrives at the Legislature for the throne speech, in Edmonton, on Thursday, Oct. 23, 2025.

Alberta Premier Danielle Smith used her weekly call-in radio show to address growing tensions over the province’s plan to legislate striking teachers back to work. Smith said she hopes the legislation, expected Monday, will not trigger broader labour unrest but emphasized her government is prepared to act if necessary.

The Alberta Federation of Labour, representing more than 350,000 workers, has warned of “unprecedented mobilization” if the government invokes the notwithstanding clause to override teachers’ right to strike. Union leaders argue such a move would undermine constitutional protections and escalate the dispute.

Smith did not rule out using the clause, saying her government must balance the rights of taxpayers, students, and teachers. She added that if teachers refuse to return voluntarily, they will be ordered back to classrooms.

The strike, involving more than 50,000 teachers, has already disrupted schools across the province. With unions threatening wider action, Alberta faces a critical week that could reshape its labour relations landscape.


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