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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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Avi Lewis Wins Federal NDP Leadership in First-Ballot Victory

Avi Lewis, who was proclaimed as the new leader of the NDP, speaks at the party convention in Winnipeg Sunday, March 29, 2026.

Filmmaker and longtime activist Avi Lewis has been elected the new leader of the federal New Democratic Party, securing a decisive first‑ballot win with nearly 40,000 votes out of roughly 71,000 cast. His victory marks a significant shift for the party as grassroots members push for a more unapologetically left‑wing direction. 

Lewis’s win signals renewed momentum for the NDP after a difficult federal election year. His campaign championed bold proposals—including expanding public ownership in key sectors—and emphasized rebuilding the party from the ground up. He inherits a party reduced to six seats in the House of Commons and facing internal tensions over energy policy, particularly from Alberta and Saskatchewan NDP leaders who warn his positions could harm workers in their provinces. 

In his victory speech at the Winnipeg convention, Lewis called for unity, inviting his leadership rivals onstage in a show of solidarity. He acknowledged differences between federal and provincial wings but framed them as evidence of a “growing tent” within the party. He also highlighted his family’s political legacy—his grandfather David Lewis and father Stephen Lewis both previously led NDP branches—while urging members to focus on winning now rather than waiting for another generation. 

Lewis, known for his documentary work and activism, now faces the challenge of rebuilding national support and reconnecting with disaffected voters. His leadership begins at a pivotal moment for the party, which is seeking to redefine its identity and relevance in a shifting political landscape. 


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