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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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Trump Delays Tariff Hikes on Furniture and Cabinets for One Year

 


President Donald Trump has postponed planned tariff increases on imported upholstered furniture, kitchen cabinets, and bathroom vanities, granting a one‑year extension before higher duties take effect.

The tariffs were originally scheduled to rise at the start of 2026, with rates on upholstered furniture set to increase from 25% to 30%, and duties on kitchen cabinets and vanities slated to jump from 25% to 50%. Under the new timeline, the current 25% rate will remain in place through 2026.

The administration said the delay is intended to provide additional time for ongoing trade negotiations with countries that export these products to the United States. Officials have argued that the tariff increases are part of a broader effort to bolster domestic manufacturing and address long‑standing trade imbalances.

The postponement offers temporary relief to importers, retailers, and builders who had been preparing for higher costs. Unless further action is taken, the increased tariffs are now scheduled to take effect on January 1, 2027.


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