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Canada Lost 68,000 Jobs. A Rate Hike May Still Be Coming. Is Your Budget Ready?

Canadians got an unwelcome surprise on Friday. Statistics Canada says the economy lost 68,300 jobs in September , following a loss of 41,700 in August. Economists polled by Reuters had expected a gain of about 9,200. The unemployment rate rose to 6.5% , from 6.4% in August. Here's what makes this tricky for your wallet. Weak jobs numbers would normally point to lower interest rates. But with inflation at 3.0% and energy prices elevated, the Bank of Canada is still weighing a rate hike , with its next decision on October 28 . Your paycheque and your borrowing costs are both facing pressure at the same time. What the September numbers say Measure August September Change in employment −41,700 −68,300 Unemployment rate 6.4% 6.5% Wage growth (permanent employees, year over year) 2.0% 2.3% Source: Statistics Canada Labour Force Survey, as reported by Reuters and The Canadian Press (Oct. 9, 2026). Rounded figures in some outlets show −68,000 and −42,000. The pain wasn't spread evenly....
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Houthi Attacks in the Red Sea Cause Major Disruption to Global Trade

 



The recent Houthi attacks on ships in the Red Sea have caused a major disruption to global trade, forcing vessels into longer and more costly journeys around Africa. The attacks have led to car factories idling in Belgium and Germany, and spring fashion lines being delayed at a popular British department store. The situation is causing delays and driving up costs at a time when the world is already struggling with higher prices for groceries, rent, and more.

The threat of further attacks grows considerably the longer the war in Gaza drags on. Disruption to Red Sea trade lasting a year could surge goods inflation by up to 2%, piling on pain while the world already struggles with higher prices for groceries, rent, and more. The situation is causing delays and driving up costs at a time when the world is already struggling with higher prices for groceries, rent, and more.


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