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Canada lost 68,000 jobs in September. Young people were particularly hard hit, and Quebec recorded the largest provincial decline. These losses follow the disappearance of 42,000 jobs in August, when Ontario bore more of the brunt. Month after month, the data show that the labour market is faltering.

CHARLEBOIS: Weak dollar, expensive groceries Back to video

In fact, Canada’s labour market has 41,200 fewer workers than it did at the beginning of 2026. Meanwhile, the American economy has added 595,000 jobs. That is very little by American standards. So imagine what our record means for Canada.

Following the labour market results, the Canadian dollar slipped to around US$0.70, its lowest level since the spring of 2025. No one really knows where it is heading, but with bad economic news piling up, our dollar could plausibly fall further in the coming weeks. With winter approaching, that does not bode well.

Over six months, Canadian imports of agri-food and seafood products amount to roughly C$38 billion, estimated from the annual total for 2024. That figure illustrates the scale of the money involved; it is not a confirmed total for the November-to-April period. Fresh fruits and vegetables are, of course, particularly exposed to a weak dollar during........

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