Albertans most likely to be worried according to Angus Reid poll
The Canadian economy may not be heading for an imminent recession but Canadians are not feeling overly optimistic about their provincial outlook.
The share that expects their province’s economic conditions to be worse in the year ahead is 43%, more than twice the 21% that feel it will improve.
The Angus Reid Institute survey highlights regional disparity with those in Quebec most confident – 30% expect improvement compared to 24% forecasting worsening conditions – while Albertans are most pessimistic with 79% expecting worse things ahead.
The poll also reveals that, while headline figures may have shown wage increases in 2019 to a 10-year high, half of respondents said their wages did not increase, 6% hadn’t had an increase in 5 years, and 14% had never had a raise.
Even those who have been given a wage increase said it made little difference; 50% said it was negligible while just 9% said it made a significant difference to their financial wellbeing.
This ties in with recent comments from CIBC Capital Markets’ deputy chief economist Tal Benjamin that debt isn’t the big problem in Canadian households, income is.
More than 4 in 10 said they are concerned about job losses, rising to 63% in Alberta.
Wages have been rising this year overall in Canada, but how many Canadians have received a raise and how much did it help? https://t.co/ghYBcJ8KUF pic.twitter.com/K8E8SbB9f7
— Angus Reid Institute (@angusreidorg) November 15, 2019
