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Consumer Net Job Security Lowest Since May 2020

CANADA DATA
  • Consumer confidence in the Bloomberg Nanos survey saw a second solid weekly decline to 51.6 last week, moving further away from recent highs of 53.5.
  • Whilst still far below the 55-60 readings typically seen pre-pandemic, it’s nevertheless holding an improvement seen since the sub-49 lows in November.
  • The headline figure does however mask a notable deterioration in job sentiment.
  • From the write-up: “Net job security plunged to 44.9%, its lowest level since May 2020 […] The data suggest workers aren’t necessarily turning outright pessimistic, but uncertainty is ballooning. Most Canadians remain confident they won’t lose their jobs, as 44% said they feel their job is secure, while another 14% said somewhat secure. Four percent responded somewhat not secure, while 9% said not at all secure.”

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