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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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Canada Must ‘Fight for Its Values,’ Carney Warns at Cabinet Retreat

Prime Minister Mark Carney speaks at the beginning of a cabinet planning forum at the Citadelle in Quebec City on Thursday. 

At a federal cabinet retreat in Quebec City, Prime Minister Mark Carney delivered a pointed message about the global state of democracy, urging Canadians not to assume their freedoms are guaranteed. He described a world where democratic norms are weakening and political polarization is intensifying, arguing that Canada must actively defend the principles that define it.

Carney stressed that the country’s core values — openness, equality, and respect for rights — require vigilance, especially in an era marked by geopolitical tension and rising authoritarianism. He told ministers that the coming parliamentary session will demand clarity, discipline, and a renewed commitment to democratic institutions.

He also responded to recent comments from U.S. President Donald Trump, who suggested Canada’s success depends on American protection. Carney countered that Canada’s strength comes from its own identity and choices, emphasizing that the country “thrives because we are Canadian.”

The retreat sets the stage for a government preparing to navigate economic pressures, global instability, and domestic political challenges — all while positioning Canada as a defender of democratic resilience.


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