The easing of border restrictions in November has been an important milestone in Canada’s economic recovery. However, supply chain disruptions and sky-high prices are acting as a dampener. After a relatively optimistic October, Canadians are now starting to worry more about the future.
Concerns over households’ future finances increased by 3.2 percentage points this month. This increase is likely due to higher inflation expectations, suggesting that purchasing power could be further eroded as we approach the new year.
As job growth lost steam in October, the share of confidence in future job prospects sustained its downward trend from its all-time peak (36.2 per cent) in June 2021. Yet at 26.4 per cent, it still exceeds any pre-pandemic high. This stability hints that Canadians are still optimistic that more job opportunities will return six months from now.
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