Unemployment, cost of living top Canadians’ worries, not Trump or U.S. tariffs
With young adults facing the weakest summer job market in over a decade, Canadians are increasingly anxious about the economy, while concerns over U.S. President Donald Trump and tariffs are fading.
With young adults facing the weakest summer job market in over a decade, Canadians are increasingly anxious about the economy and unemployment, while concerns over U.S. President Donald Trump and American tariffs are fading.
According to a new study by the Angus Reid Institute, youth unemployment is now a “key concern,” and 40 per cent of respondents saying they are worried they or someone in their household may lose their job due to the economy.
The fear was consistent across all income levels but highest among 18- to 24-year-olds.
“Concern over jobs among young Canadians climbing sharply as the unemployment rate remains elevated,” reads the study published on Wednesday.
“Approaching two-in-five (37 per cent) 18- to 24-year-olds choose jobs and unemployment as a top issue facing the country. That’s double the proportion who said the same last December (18 per cent) and up nine points since June (28 per cent).”
Meanwhile, the proportion of those choosing tariffs and U.S. relations as a top issue facing Canada has dropped dramatically from 41 to 18 per cent, while cost of living topped the priority list at 53 per cent.
Prime Minister Mark Carney may have benefited greatly from the timing of the last federal election, with many Canadians worried about U.S. President Donald Trump and his threat to impose stiff tariffs on all trading partners.
However, as Canada-U.S. trade negotiations have dragged on, the “Elbows Up” sentiment has “largely diminished.”
In perhaps the most shocking number, 57% of respondents said they can’t keep up with the cost of living.
Employment trends did not fare well over the summer and have been largely negative, with 66,000 jobs lost in August alone.
Canada's unemployment rate rose from 6.9 to 7.1 per cent.
A study found 37 per cent of respondents said jobs and unemployment should be Canada's top priority, a figure that has doubled in the past nine months.
Two-in-five Canadians are concerned they or someone in their household may lose a job due to the current economy. This is an increase from 2022 and 2023 data, but 13 points lower than the proportion in March 2021.
Only one-in-three respondents feel their job is totally secure, while just over half said it's mostly secure. Canadians aged 30 and under were the least likely to report feeling their job is "totally secure" compared to other age groups.
Youth unemployment in Canada hit 14.5 per cent last month, up from 14.2 per cent in July and marking the highest rate in 15 years, excluding 2020 and 2021.
Conservative Leader Pierre Poilievre criticized the Liberal government for this problem, stating that it's their immigration policies that are hindering job prospects for Canadian youth.
“As our young people have a quarter-century high in their unemployment, Mark Carney this year is expected to bring in a record number of temporary foreign workers to take the jobs of Canadian youth,” said Poilievre during a press conference in Charlottetown, Prince Edward Island, last month.
Poilievre also accused Prime Minister Mark Carney of “driving down our kids' wages and their ability to earn a living.”
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