The perceived risk of job loss remains larger than it was before the start of the trade conflict. It is particularly evident among workers in sectors that are highly dependent on trade between Canada and the United States. When asked in a follow‑up interview about the impacts of tariffs on their income and on job opportunities in their sector, one person said, “I think that the longer [tariffs] last, the greater the impact [will be]…. I work in a small‑medium enterprise. Clearly a small business is the victim of tariffs if they sell to the USA.”
Unemployed consumers identified the following as top factors influencing their job‑finding prospects:
- their skills or experience for the jobs available
- the outlook for the economy in general
This quarter’s survey results show that consumers who have been unemployed for 12 months or longer are more likely than those with shorter periods of unemployment to cite their skills or experience as the most important factor affecting their job‑finding prospects. For those who have been unemployed for less than 12 months, skills remain the most cited factor, but concerns about the economy and wages also play an important role.
Consumers remain cautious about their spending plans
Consistent with low expectations for their financial health and elevated concerns about the labour market, consumers’ spending plans continue to be weak (Chart 6). The CSCE consumer spending index fell slightly, though it remains close to the levels observed since the trade conflict began. One respondent said, “It’s definitely tough for my family, and we have to budget more appropriately. We look for a discount and have to be more strategic—I purchase less wants and more needs.”
