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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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U.S. Aid to Argentina Tied to Milei’s Political Future, Trump Warns

U.S. President Donald Trump points a finger as he welcomes Argentina's President Javier Milei at the White House in Washington, D.C., U.S., October 14, 2025. 

In a striking declaration during a White House meeting with Argentine President Javier Milei, U.S. President Donald Trump linked Washington’s financial support for Argentina to Milei’s political survival. Just days after approving a $20 billion bailout package, Trump stated bluntly: “If he loses, we’re gone.”

The warning came as Argentina prepares for crucial midterm legislative elections. Trump emphasized that U.S. backing hinges on Milei’s libertarian government maintaining power, saying his administration would not “waste time” if Milei’s party fails to secure victory.

The remarks rattled Argentine markets, which had initially responded positively to the bailout deal. The package, centered on a major currency swap between the U.S. dollar and the Argentine peso, was seen as a lifeline for the country’s struggling economy.

Trump’s intervention underscores the high stakes of Argentina’s upcoming elections and highlights Washington’s willingness to condition international support on political alignment. For Milei, the message was clear: his government’s future—and Argentina’s economic stability—are now deeply intertwined with U.S. expectations.


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