A growing sense of economic anxiety is emerging among Canadians, particularly younger workers, as new polling suggests the labour market is feeling significantly weaker than official unemployment figures indicate.While the national unemployment rate has remained relatively stable in recent months, new data from the Angus Reid Institute shows rising concern about job prospects, especially among Canadians aged 18 to 24. The federal government, meanwhile, announced plans Tuesday to spend billions on skills training and workforce development as part of its spring economic statement.Among young Canadians, 38% now say unemployment is one of the most important issues facing the country, more than double the 18% who said the same at the start of 2025.The broader labour picture also shows significant strain beneath the surface. About 16% of households say they know someone currently unemployed and actively seeking work, while another 21% report that unemployment is affecting close friends or family members..For those directly engaged in the job market, sentiment is overwhelmingly negative. Four-in-five Canadians who are either looking for work or have close ties to someone who is describe current conditions as “bad” or “terrible,” while just 13% view the market positively. Job seekers most commonly cite a lack of employer responses and too few available positions in their area.Even as some economic indicators show improvement, including easing inflation and slightly lower housing costs, financial pressure remains widespread. Roughly 21% of Canadians fall into what researchers describe as a “high financial pressure” category, defined by job insecurity and pessimism about future finances. Within that group, 3 in 5 expect their financial situation to worsen over the next year.Rising energy costs are also weighing on households. The ongoing conflict in Iran has pushed up oil and gas prices, with 77% of Canadians saying they have felt a financial impact. In response, 68% report changing their behaviour, including driving less, combining trips, or cutting spending in other areas. That is up from 63% earlier in the conflict.The survey also highlights continued unease in the workforce more broadly. Only 3 in 10 employed Canadians say they feel fully secure in their job, while 14% report some level of insecurity.Although the share of Canadians who say they are worse off financially than a year ago has declined, it remains high at 35%, roughly double the proportion who say they are better off. Housing affordability pressures have also eased slightly, with the share of Canadians saying housing costs are difficult to manage falling from 44% to 31% over the past two years.
