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CANADA DATA: Highest Consumer Perceptions Of Job Security In Six Months

CANADA DATA
GlobalCanadaData BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsRegionNorth America
  • Released earlier today, the Bloomberg Nanos consumer survey saw a strong increase last week from 53.8 to 55.4 for its highest since May 2022.
  • Stronger consumer perceptions of job security have played a role here, with the share seeing their job as “secure” rising from 48.0% to 51.0% for the highest/first time above 50 since Feb/Mar 2024.
  • Our calculation of net job security similarly increased from 48.7 to 51.4, which for recent context bottomed out at ~40% in April and increased to ~44% before the BoC started it rate cutting cycle in June (3 x 25bps in currently and with more indicated to come).
  • It’s only a small survey of 1,000 households but it nevertheless offers anecdotal evidence of some firming in the labour conditions with the BoC acutely sensitive to further increases in the unemployment rate. 

 

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  • Released earlier today, the Bloomberg Nanos consumer survey saw a strong increase last week from 53.8 to 55.4 for its highest since May 2022.
  • Stronger consumer perceptions of job security have played a role here, with the share seeing their job as “secure” rising from 48.0% to 51.0% for the highest/first time above 50 since Feb/Mar 2024.
  • Our calculation of net job security similarly increased from 48.7 to 51.4, which for recent context bottomed out at ~40% in April and increased to ~44% before the BoC started it rate cutting cycle in June (3 x 25bps in currently and with more indicated to come).
  • It’s only a small survey of 1,000 households but it nevertheless offers anecdotal evidence of some firming in the labour conditions with the BoC acutely sensitive to further increases in the unemployment rate.