Rising number of Canadians fear losing their jobs

A new survey shows growing concern about economic stability and employment among Canadians amid President Donald Trump’s tariffs and trade sanctions.

A majority of Canadians (83%) are concerned that Trump may use measures such as tariffs and trade sanctions to push Canada into a closer and more formal economic relationship with the United States.

In response, 73% support a policy where the Canadian government matches any tariffs imposed by the U.S. on a dollar-for-dollar basis, finds the survey by Leger of 1,534 Canadians from Feb. 21 to Feb. 23, 2025.

Notably, two-thirds of Canadians have reduced their purchases of American products, both in stores (66%) and online (63%), while 70% are increasing their purchases of Canadian-made goods, which is a 2-point increase from last week.

And among Canadians who had planned a trip to the U.S., 30% have cancelled those plans.

Is Canada in a recession?

Half of Canadians (53%) believe the country is in an economic recession, a 3-point increase since last week. Another 30% disagree while 17 per cent are undecided.

That concern is notably higher in Ontario (58%) and Alberta (59%) and among 18- to 34-year-olds (67%).

Nearly all Canadian employers are in full support of Ottawa’s decision to impose tariffs on the US, found a separate survey by KPMG.

Employment concerns among Canadians

More than four in 10 (42%) of Canadians who are currently employed fear losing their job within the next 12 months. This represents a 3-point increase since last month, and a 6-point increase since January 2025, found Leger.

That’s broken down to 11% who are very concerned and 31% who are somewhat concerned, while 36% are not very concerned and 22% are not at all concerned, finds Leger.

Fears of losing their job is highest in Manitoba, Saskatchewan and Alberta (all 53%).

Finances amid US tariff threat

In addition, 44% of Canadians report living paycheck to paycheck. That’s even higher in Atlantic Canada and Manitoba and Saskatchewan (all 51%) and 35- to 54-year-olds (56%).

This is concerning given the fact that than eight out of 10 Canadians (84%) believe consumer prices have increased in the past few weeks.

This represents a 4-point increase since last week, finds the Leger survey.