Canadians’ Growing Anxiety Over Job Security Amid Trade Tensions

Rising Fears of Unemployment Across the Country

A recent Leger poll has revealed that 40% of Canadians are concerned about losing their jobs, reflecting growing anxiety amid the ongoing trade disputes with the United States. The poll, which surveyed over 1,500 Canadian adults from March 7 to March 10, highlights significant regional disparities in job security fears. Workers in Ontario expressed the highest level of concern, with more than half (53%) worried about their employment stability. In contrast, residents in Atlantic Canada were the least concerned, with just under 25% expressing similar fears. Other regions, such as British Columbia and Manitoba/Saskatchewan, saw 39% of respondents worried about job loss, while Alberta and Quebec reported 35% and 26%, respectively. The poll also found that men (44%) were more anxious about unemployment than women (36%), and younger adults (ages 18–54) were more concerned (42%) than those over 55 (34%).

The Economic and Psychological Impact of Job Insecurity

The Leger poll underscores the broader economic implications of rising job insecurity. Andrew Enns, executive vice-president of Central Canada for Leger, noted that widespread fear of unemployment can have a chilling effect on consumer behavior, as people delay purchases and tighten their spending. This trend could exacerbate economic uncertainty, particularly in industries heavily reliant on trade with the U.S. Enns also pointed to the role of political rhetoric, suggesting that Ontario’s high anxiety levels may have been influenced by dire warnings from provincial politicians about the impact of U.S. tariffs on employment. The data further revealed a troubling shift in public sentiment, with 15% of concerned respondents now describing themselves as “very” concerned about losing their jobs, up from 11% in early March.

Regional Variations and Industry Vulnerabilities

The Bank of Canada has reinforced these findings, with new data indicating that 40% of businesses are scaling back hiring and investment plans due to trade uncertainty. Industries most exposed to U.S. trade, such as mining, oil, and gas, reported the highest levels of job insecurity, with nearly three in four workers expressing concerns. Manufacturing, another sector heavily dependent on cross-border trade, saw 60% of employees worried about their jobs. Additionally, workers in finance, insurance, real estate, and agriculture were also significant proportions expressing anxiety about their employment stability. Bea Bruske, president of the Canadian Labour Congress, highlighted the human toll of these developments, noting that some workers are already considering drastic measures, such as selling their homes, while others face “pockets of layoffs” across the country.

The Domino Effect of Trade Tensions

The ongoing trade war has sent shockwaves through global markets, with U.S. tariffs on steel and aluminum imports further heightening economic uncertainty. Canadian businesses, particularly in manufacturing, have reported declining orders from U.S. clients, raising fears of more widespread layoffs. Bruske warned that while the number of layoffs has been relatively small so far, employers are increasingly cautious about the future, with many unions receiving notices of potential job cuts. This climate of uncertainty is taking a toll on worker morale and spending habits, creating a vicious cycle that could further slow economic growth. As trade relations between Canada and the U.S. remain fragile, the potential for more severe disruptions looms large.

The Broader Economic Implications

The interplay between trade tensions, business confidence, and consumer behavior is a critical factor in understanding the current economic landscape. With many Canadian households already living paycheck to paycheck (46%, according to the Leger poll), a significant rise in unemployment could have far-reaching consequences. Enns emphasized that if companies proceed with large-scale layoffs in response to tariffs, this could lead to a sharp decline in consumer spending, worsening the economic downturn. The Bank of Canada survey further highlighted the vulnerability of export-reliant industries, where workers are acutely aware of their exposure to trade disruptions. As the situation continues to evolve, the ability of policymakers to mitigate these risks will be crucial in determining the path forward.

A Call for Resilience and Support

In conclusion, the Leger poll and Bank of Canada data paint a troubling picture of a workforce grappling with heightened job insecurity amid trade tensions. The disproportionately high anxiety levels in Ontario, the vulnerability of export-dependent industries, and the psychological impact on spending habits all underscore the need for a coordinated response. While the immediate future remains uncertain, experts like Enns and Bruske emphasize the importance of policymakers and businesses taking proactive measures to support workers and stabilize the economy. For now, Canadians are left to navigate this challenging landscape with a mix of caution and resilience, hoping that trade relations will improve and job security will follow.