The latest Nanos reading is in line with other indicators that point to a full recovery from the pandemic being a long way off. Last week, Statistics Canada data showed the labour market partially recovered in June, but that 60 per cent of jobs lost during the pandemic are still yet to be recouped.
Every week, Nanos Research surveys 250 Canadians for their views on personal finances, job security and their outlook for the economy and real estate prices. Bloomberg publishes four-week rolling averages of the 1,000 responses.Canadians’ perceptions of their personal finances remain gloomy. Only 13 per cent of respondents report being better off financially over the past year, close to all-time lows. About 37 per cent say their finances have worsened.
Canadians are suddenly getting more pessimistic about the recovery. About 57 per cent of Canadians believe the economy will worsen over the next six months. That’s up from 53 per cent two weeks ago, but still well below the 80 per cent in April. About 16 per cent of Canadians say they feel insecure or somewhat insecure about their employment, up from 15 per cent a week earlier. While that’s down about 10 percentage points from April, the improving trend in recent week for this gauge seems to have come to an endReal estate is the one area where positive sentiment is accelerating.
Not 3 months, almost five years!
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