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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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Inferno in Victoria: ‘Catastrophic’ Fire Danger Triggers Mass Evacuations

 

Amid temperatures that exceeded 40 degrees Celsius (104 degrees Fahrenheit) in parts of the state, two large bushfires were raging near the towns of Longwood and Walwa.


Bushfires are sweeping through southeastern Australia as authorities issue a rare “catastrophic” fire danger warning, urging residents to leave immediately ahead of worsening conditions.

Fires Intensify Across the Region

Two major blazes are burning in Victoria, including a fast‑moving fire near Longwood and another near Walwa that has grown large enough to generate its own weather patterns. Several structures have already been lost, and emergency crews warn that containment lines may not hold as temperatures climb and winds strengthen.

Highest-Level Warning

Officials have declared “catastrophic” fire danger for Friday — the most severe rating available. Under these conditions, fires can become uncontrollable within minutes, leaving little time for evacuation or defense.

Communities Told to Leave

Residents in multiple towns have been ordered to evacuate early, with authorities stressing that waiting could be deadly. Schools in high‑risk areas are closing, and additional firefighting teams are being deployed to reinforce vulnerable zones.

Heatwave Fuels the Crisis

A severe heatwave is gripping the region, drying out vegetation and creating ideal conditions for rapid fire spread. Meteorologists warn that the extreme heat may persist, prolonging the danger and complicating firefighting efforts.

As the situation evolves, emergency services continue to urge vigilance, early evacuation, and close monitoring of official alerts.


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