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Best High-Interest Savings Accounts in Canada 2026 — Complete Guide

  Published: April 2026 | Reading time: 10 min | Category: Saving Money, Personal Finance, Budgeting If your money is sitting in a big bank savings account earning 0.01% interest, you are losing money to inflation every single month. In 2026, the best high-interest savings accounts in Canada are paying 3.5% to 5% — that's 100 to 500 times more than what the Big Six banks typically offer on their standard savings accounts. Switching takes about 15 minutes. The difference on a $20,000 emergency fund is $700–$1,000 per year in extra interest — for doing absolutely nothing differently except choosing the right bank. This guide covers the best high-interest savings accounts available to Canadians in 2026, ranked by rate, features, and reliability — so you can stop leaving free money on the table. Why Your Big Bank Savings Account Is Costing You Money The Big Six banks — RBC, TD, Scotiabank, BMO, CIBC, and National Bank — dominate Canadian banking but consistently offer some o...
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Population growth outpaces job creation in Canada

 


Canada’s labour market is facing a challenge as the number of people looking for work is growing faster than the number of jobs available. According to Statistics Canada, employment increased by 25,000 in November, but the unemployment rate rose to 5.8 per cent from 5.7 per cent in October. This is because the population aged 15 and over grew by 870,000, or 2.7 per cent, since the beginning of the year, while the net job gain was only 430,000.

The Bank of Canada has been raising interest rates to curb inflation, but this has also slowed down the economy and the demand for labour. Some economists expect the central bank to start cutting rates in the second quarter of next year to stimulate growth and stabilize the labour market.

The job gains in November were concentrated in the private sector, full-time work, manufacturing and construction. However, some industries, such as wholesale and retail trade, finance, insurance and real estate, saw job losses. Younger workers (15 to 24) also faced higher unemployment than other age groups.

Average hourly wages rose 4.8 per cent year over year in November, matching the increase in October. The Bank of Canada is monitoring wage growth for signs of inflationary pressure. Total hours worked across the economy fell 0.7 per cent in November, indicating a weak performance of gross domestic product that month.


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