February 16, 2015 9:00 am
Updated: February 20, 2015 3:28 pm

Jobs, keeping a steady income lead Canadians’ money woes: poll

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WATCH ABOVE: An exclusive Ipsos Reid poll for Global News reveals nearly half of Canadians say their income causes them stress.

TORONTO – How are you feeling about your job these days? A little stressed out about the money coming in? A little less secure than your parents’ generation?

It may be small comfort, but a lot of Canadians are in the same boat.

An exclusive Ipsos Reid survey for Global News found that nearly half (45 per cent) of Canadians polled said their income, or keeping a steady income, is causing them stress.

Income as a source of stress led the pack, followed by:

  • Saving for retirement (40%)
  • Saving for big-ticket items (37%)
  • Making bill payments (33%)
  • Credit card debt (31%)
  • Mortgage or rent payments (30%)
  • Paying for dependents (24%)

Smart Money on Global News | How do Canadians feel about their job?

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READ MORE: Canadians stressed about finances as debt levels rise, exclusive poll finds

When asked if they felt secure in the current job, one quarter of Canadians said they didn’t.

Younger Canadians (under the age of 35) were the most likely to say they didn’t feel secure in their job, with one in three saying they felt anxious about job security.

One in three (34 per cent) working Canadians said they’re looking to jump careers in the next year, and younger Canadians are most likely to consider a career change, at 47 per cent.

“Some of this is likely a desire start climbing the ladder, as internal promotions are harder to come by in a time of economic uncertainty,” said Sean Simpson, Vice President, Ipsos Reid Public Affairs. “The other part is that there’s no pension tethering workers to the same employer for decades, so they feel more at liberty to shop around for the career they like best.”

When it comes to how the federal government is handling jobs and the economy, one in three (34 per cent) think the feds are doing a good job creating more jobs – but two-thirds (66 per cent) disagree.

“The sputtering economy hasn’t done much for the confidence of workers in Canada,” said Simpson.

The poll results paint a shaky picture for working Canadians – but when it comes to those who don’t have a job, the picture is even more grim.

A Global News analysis found that the percentage of Canadians who aren’t working – some of whom aren’t even looking for a job – is at historic highs.

Canadians want to work, but many of them are forced to take part-time, seasonal or temporary jobs. Some go back to school, others give up.

READ MORE: Canadians want work. Why have so many stopped looking?

Global News’ analysis showed that 66.1 per cent of Canadians (over 15 years old) are working or actively looking for work – the lowest point since 2001.

“It is indicative of a weak economy, no question,” said Mike Moffatt, an economist with the Mowat Centre and the Ivey School of Business.

And with a weak economy, you can expect that the job market will not improve — nor will Canadians’ stress levels — any time soon.

Collapsing oil prices triggered an economic shock in Canada. Many employers are looking at layoffs over hiring, according to the Conference Board of Canada. “Job seekers will have to wait until 2016 before more solid employment opportunities arise,” economists at the not-for-profit think tank said in an outlook this month.

This week on Global News’ Smart Money series, we’ll take a closer look at employment in Canada, how it could evolve in the future, and offer expert advice on how to navigate the Canadian job market.

Follow the conversation online at Globalnews.ca/smartmoney and on Twitter, #GNSmartMoney.

*With files from Anna Mehler Paperny, Jamie Sturgeon

The data, summaries and commentary in exclusive Global News / Ipsos Reid polling are subject to copyright. The data, summaries and commentary may only be rebroadcast or republished with full and proper attribution to both Global News and Ipsos Reid in all web articles, on social media, in radio broadcasts and with an on-screen credit for television.

This Ipsos Reid poll was conducted between Jan. 29 to Feb. 3, 2015. A sample of 1,003 adults was interviewed via the Ipsos I-Say online panel. This poll is accurate within +/- 2.5 percentage points, 19 times out of 20.

© 2015 Shaw Media

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