Angus Reid report shows that Canadians remain relatively calm about finances and health despite rising infection rates
Financial and health concerns have dominated thoughts in 2020 and as a second wave of virus infections takes hold, stress levels are elevated.
But while Canadians are feeling the strain of the pandemic, it is our neighbours south of the border that are taking it hardest.
A new survey from the Angus Reid Institute shows that 22% of Canadians are either very or extremely stressed by the pandemic, but this number almost doubles to 40% among Americans.
The share of respondents saying they are very or extremely worried about their personal finances has a similar disparity, with 28% of Canadians and 46% of Americans saying so.
With unemployment increasing in both countries since the pandemic began, Canadians have been supported by government programs including the Canada Emergency Response Benefit (CERB) which has provided up to $2,000 a month for those unable to work, although some accidental ‘double-dippers’ are now being pursued by the CRA.
However, in the US, a $1,200 payment to all earning less than $99,000 has been less supportive to those in dire need and many measures have hit political roadblocks.
Those expressing extreme concern about personal finances highlights this difference in support measures with 28% of Americans in this group compared to just 12% of Canadians.
For the lowest income households (under $50K per year) the share of those who are very or extremely concerned about their personal finances is 38% in Canada and 53% in the US.
Lockdown or not?
As mask wearing and social distancing continues, Canadians are also more confident that the country will bounce back, with 52% expecting a quick turnaround of rising infections compared to 42% of Americans.
But Canadians are more likely to say that, despite rising COVID-19 cases, the economy cannot afford another lockdown: 71% vs. 67% of Americans.
