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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. Justifies Venezuelan Boat Strikes as Lawful Self-Defense

 

                                          White House defends US attack on boat from Venezuela


The White House has defended recent U.S. military strikes on an alleged Venezuelan drug-smuggling vessel, framing the actions as lawful and necessary for self-defense. According to officials, Admiral Frank Bradley ordered multiple strikes on September 2 with authorization from Defense Secretary Pete Hegseth. The operation targeted a boat in the Caribbean suspected of narcotics trafficking, but reports that a second strike was carried out against survivors have sparked intense debate.

White House spokeswoman Karoline Leavitt stated that Admiral Bradley acted “well within his authority and the law,” emphasizing that the engagement was conducted in international waters and aimed at eliminating a threat to the United States. The administration has designated the group involved as a foreign terrorist organization, which it argues justifies lethal targeting under the laws of armed conflict.

Critics, however, have raised concerns about the legality of striking survivors, with some legal experts warning that such actions could constitute violations of international law. President Donald Trump himself noted that he would not have supported a second strike, while Hegseth has denied issuing an order to “kill everyone” on board.

The incident underscores the growing scrutiny of U.S. counter-narcotics operations in the Caribbean, where military actions against suspected traffickers have increased in recent months. While the White House insists the strikes were lawful, the controversy highlights the tension between national security imperatives and international humanitarian standards.

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