Two new surveys reveal a split-screen labour market - stable for the employed, punishing for anyone trying to break in
Two surveys released this week cast Canada's labour market in sharp relief: Canadians who have jobs largely feel safe keeping them, but those searching for new ones are encountering one of the most difficult hiring environments in years - and their pessimism about the broader economy is deepening.
The Angus Reid Institute, a non-profit polling organisation based in Canada, surveyed 4,417 Canadian adults between September 8–16, 2026, and found that 87 per cent of employed Canadians describe their jobs as secure - virtually unchanged from a year earlier. At the same time, among those job-hunting or reporting on someone close to them who is, 77 per cent call the experience "bad" or "terrible." Only 15 per cent say the search is going well.
Separate data from the Bloomberg Nanos Canadian Confidence Index (BNCCI) reinforces the divide. The weekly confidence gauge - a diffusion index where 50 indicates neutral sentiment - registered 50.88, compared with 51.72 four weeks earlier. The Pocketbook Index, which tracks personal finances and job security, edged up modestly to 54.67 from 53.75. But the Expectations Index, which measures forward-looking views on the economy and real estate, slipped to 47.08 from 49.70, dipping below neutral territory.
As Nik Nanos, chief data scientist at Nanos Research in Ottawa, put it: "Views of personal finances and job security improved modestly... At the same time, expectations for the economy and real estate market softened, with the Expectations Index remaining in neutral."
A labour market easier to stay in than to enter
The mechanics behind these numbers are straightforward. Canada has added just 26,000 net jobs since January 2026, according to Statistics Canada data cited in the Angus Reid report - a figure that includes a loss of approximately 42,000 positions in August alone. Statistics Canada's job vacancy data shows there are now nearly three unemployed Canadians for every available position, almost triple the ratio recorded during the labour shortages of 2022.
The Bank of Canada's second-quarter Business Outlook Survey, published in July 2026, found hiring intentions had fallen below their historical average, with most businesses indicating their existing workforce was sufficient to meet current demand.
That employer caution is translating directly into the experience of job seekers - and it is showing up nationally. Quebec fared best among regions in the Angus Reid survey, yet even there only one-in-four respondents described the job market as positive. Every region reported majority-level obstacles.
The Nanos data offers a useful cross-check on regional sentiment. Ontario registered a confidence score of just 49.49 and British Columbia came in at 47.19 (both below neutral) while Quebec led the country at 55.26. Canadians in the lowest income bracket, those earning under $15,000 annually, scored just 39.17 on the confidence index, well below the 2026 average of 51.05 and close to the pandemic-era lows reached in April 2020.
Outlook drifting toward caution
Forward-looking sentiment is where both surveys converge most clearly. The Angus Reid data found that 28 per cent of Canadians expect to be worse off financially a year from now, compared with only 19 per cent who anticipate improvement. A plurality (44 per cent) expect more of the same.
The Nanos Expectations Index tells a similar story. At 47.08 - below the neutral 50 threshold - forward-looking views on the economy and real estate are net negative, even as near-term pocketbook feelings have stabilised.
The gap between the two sub-indices has widened: the Pocketbook Index sits roughly seven points above neutral while the Expectations Index sits three points below it. That divergence - people feeling relatively okay today but pessimistic about tomorrow - is a pattern advisors have been navigating for much of 2026.
As a Fidelity Investments Canada survey reported earlier this year by Wealth Professional found, nearly half of Canadian advisors are already fielding client questions about trade policy and its knock-on effects on household finances and job stability. The Nanos and Angus Reid data published this week gives those conversations a firmer empirical footing.
Financial pressure and the grocery question
Using its Financial Pressure Index - a composite scored across eight indicators - the Angus Reid Institute found that approximately 22 per cent of Canadians are currently under high financial pressure, with a further 19 per cent reporting medium pressure. Those groups are more likely to feel insecure about employment, rate their household finances as poor, and struggle to cover basic costs.
Grocery costs remain a persistent flashpoint. Statistics Canada data cited in the Angus Reid report shows food prices from stores have risen approximately 29 per cent since August 2021.
In households earning under $50,000, 59 per cent report difficulty feeding their families — a figure that underscores the degree to which headline labour market stability masks considerable stress at the household level.
The Nanos income-bracket breakdown is consistent with that picture. Confidence among Canadians earning under $30,000 is running well below the national average, while those earning $75,000 or more score a relatively healthier 52.96.
What the data means for advisors
For financial planners and wealth managers working with clients in or near career transitions, the combined picture from these two surveys carries practical implications.
Clients sitting in the 41 per cent of the workforce under medium or high financial pressure - and those in lower-confidence regions like Ontario and British Columbia - may need financial plans that account for longer job-search timelines, compressed household cash flow, and heightened anxiety about near-term economic conditions.
An Advocis survey for Financial Literacy Month 2025, covered by Wealth Professional, found that more than 90 per cent of advisors reported clients rarely have frank conversations about money even as financial anxiety climbs - pointing to a persistent gap between client stress and advisor engagement. The current data suggests that gap may be widening heading into the fourth quarter of 2026.
The Bloomberg Nanos Canadian Confidence Index is based on a rolling four-week telephone survey of 1,022 randomly selected Canadian adults, accurate to plus or minus 3.1 percentage points, 19 times out of 20. The Angus Reid Institute survey was conducted online from September 8–16, 2026, among 4,417 Canadian adults, with a margin of error of plus or minus 1.5 percentage points, 19 times out of 20.
