'There is a sense of economic confidence turning around,' says report looking at Canadian outlook
Confidence in the Canadian economy is slowly improving, according to a recent survey.
One-third (34%) of Canadians think that the economy is good or very good, an increase of three percentage points from June, finds Leger.
Conversely, 59% of Canadians think the economy is poor or very poor, a decline of three percentage points from June.
“Despite continuing concerns around US tariffs, there is a sense of economic confidence turning around,” according to the Leger report. “While Canadians are still not placing any bets on the future, they are slowly becoming more positive about the economy today. This could be due to lessening concerns around housing affordability and inflation in particular.”
However, future expectations have yet to improve: 45% of Canadians that the economy will decline in the future, similar to June.
About 6 in 10 think that their household finances are good or very good—a number that has remained relatively stable since mid-2024.
Overall, 37% believe that the current household economic condition is poor or very poor, finds the Leger survey of 2,452 Canadians in September.
Additionally, 33% think their discretionary spending will decrease, while 24% think it will increase.
Future confidence in household finances is also stable but continues to be more negative than positive: 25% anticipate their household finances will decline, while 17% think they will improve.
Housing affordability top concern
The housing situation in Canada is top of mind for many Canadians, according to the Leger survey.
Housing affordability (43%) is a bigger issue for Canadians compared with the following:
- Healthcare (39%)
- Tariffs (33%)
- Inflation (30%)
- Crime / public safety (21%)
- Climate change (18%)
- Immigration (17%)
High housing costs are making it increasingly difficult for Canadian workers to relocate for better job opportunities, limiting talent mobility and slowing national productivity growth, according to a previous report.
The housing challenge that Canadians currently face provides an opportunity for companies to differentiate themselves, according to Recutify.
“Providing relocation assistance, housing subsidies, or down payment programs can help offset the high cost of living and make your company more appealing to skilled professionals,” the company says via LinkedIn.
“One of the most effective ways to support employees in high-cost areas is through Employer-Assisted Housing (EAH) programs. These initiatives provide financial support for housing-related expenses, including down payments, rental subsidies, or homeownership counselling. For example, some employers offer forgivable loans for down payments if employees stay with the company for a set period.”
In May, a group of academics called on the federal government to ensure that migrant agricultural workers arriving in Canada through the Temporary Foreign Worker Program (TFWP) are provided with adequate housing.
