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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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Russia Urges Restraint as U.S. Military Buildup Heightens Iran Tensions

 

                                           The impressive USS Abraham Lincoln aircraft carrier. 


Growing friction in the Middle East has prompted Russia to issue a stark warning about what it calls an “unprecedented escalation of tension” surrounding Iran. Moscow’s remarks come as the United States significantly increases its military presence in the region, a move American officials say will be fully in place by mid‑March. 

Russian officials have called on all parties—particularly Iran and the United States—to exercise restraint. Despite staging joint naval drills with Tehran, the Kremlin insists these exercises were pre‑planned and should not be interpreted as provocative. 

The U.S., meanwhile, has issued renewed warnings to Iran following stalled nuclear discussions, signaling that failure to reach a diplomatic agreement could lead to military action. This comes as Iran and Russia conduct joint naval operations in the Sea of Oman, intended to deter unilateral moves in the region. 

Amid these developments, Russia, China, and Iran have also carried out coordinated naval exercises in the Strait of Hormuz, a strategic waterway critical to global energy supplies. The drills underscore the shifting military dynamics as Washington continues to bolster its forces across the Middle East.


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