- More than half of working Canadians (55%) are worried about job mobility and opportunities, with that figure rising to 60% among working Gen Z and 59% among Millennials.
asserted
figure → work → Millennials
- Nearly half (47%) of Canadians say they have tried to earn additional income in some way, including selling goods online, learning new skills, working a second job, monetizing a hobby, or taking on freelance work.
asserted
they → say → work
- More than four in 10 Canadians (42%) worry artificial intelligence (AI) could negatively affect their employment or income, while more than half (54%) say if they lose their job, they do not have enough savings to support themselves or their family for six months without borrowing or falling behind on bills.
uncertain
they → worry → bills
- More than one-quarter (27%) of working Canadians worry tariffs, trade disputes or broader economic instability could negatively affect their job or income.
uncertain
tariffs → work → job
More than half of working Canadians (55%) are worried about job mobility and career opportunities in the current labour market, as economic uncertainty, tariffs and trade tensions, and the rise of AI reshape the outlook for jobs and income.
asserted
uncertainty → work → jobs
According to the latest MNP Consumer Debt Index, conducted quarterly by Ipsos, more than four in 10 Canadians (42%) worry artificial intelligence (AI) could negatively affect their employment or income.
uncertain
intelligence → accord → employment
Against that backdrop, more than half (54%) say if they lose their job, they do not have enough savings to support themselves and/or their family for six months without borrowing or falling behind on bills.
asserted
they → say → bills
“When Canadians are not confident they could replace their income if their job situation changed, carrying debt can feel much more precarious,” says Grant Bazian, president of MNP LTD, the country’s largest insolvency firm.
uncertain
Bazian → replace → LTD
“A job loss, reduction in hours or change in pay can quickly alter what a household can afford, particularly when there is not much room in the budget to absorb the change.”
asserted
household → alter → change
Staying Put: Income uncertainty raises the financial stakes of career moves
Trade-related uncertainty is also evident, as nearly one-quarter (24%) of all Canadians worry tariffs, trade disputes or broader economic instability could negatively affect their job or income, increasing to more than one-quarter (27%) for working Canadians.
uncertain
tariffs → stay → Canadians
One-third of working Canadians (32%) worry they would struggle to find a new job offering similar pay and benefits, while nearly one-quarter (23%) are concerned there are fewer opportunities available in their field or industry.
asserted
one → work → field
These concerns are also reflected in workers’ willingness to make career moves.
asserted
concerns → reflect → moves
One-quarter (25%) of Canadian workers say they are reluctant to leave their current job because of uncertainty in the job market, one in five (19%) feel less secure in their job than they did a year ago, and one in five (20%) would like to change jobs but do not feel financially secure enough to risk a period of lower or no income.
asserted
one → say → income
Concerns about job mobility and career opportunities are especially pronounced among younger generations: three in five working Gen Z Canadians (60%) and nearly three in five Millennials (59%) express concern about job mobility and career opportunities, compared with more than half of working Gen X (55%) and about one-quarter of Boomers (26%).
asserted
Canadians → pronounce → Boomers
“Changing jobs can involve a period of uncertainty around pay, benefits or how quickly the next opportunity will come,” says Bazian.
asserted
Bazian → change → pay
“For someone already managing debt, even a short gap in income can carry real financial consequences.
asserted
gap → manage → consequences
It’s understandable that some people may be more hesitant to make a move when they are not confident they have the financial room to absorb that transition.
uncertain
they → ’ → transition
The MNP Consumer Debt Index has risen four points to 95, though confidence remains below historical levels.
asserted
confidence → rise → levels
Despite this improvement, more than two in five Canadians (44%, -2 pts) report they are on the brink of insolvency, meaning they are within $200 or less of being unable to meet their monthly financial obligations.
asserted
they → report → obligations
Financial resilience also remains fragile when unexpected costs or disruptions arise: more than one-third (36%, +2 pts) are not confident in their ability to cope with loss of employment or changes in wage or seasonal work without increasing their debt.
asserted
third → remain → debt
One-third (34%, +1 pt) lack confidence in their ability to cope financially with an illness that prevents them from working for three months, while three in 10 (29%, +1 pt) are not confident they could manage an unexpected vehicle repair or replacement.
uncertain
they → lack → repair
The ‘Second-Income Economy’: Canadians look for new ways to earn amid AI uncertainty
Nearly one-quarter (23%) of Canadians cite concerns about the potential impact of AI on their careers, increasing to more than one-quarter (27%) for working Canadians.
asserted
quarter → look → Canadians
One in seven (14%) say they are worried AI will make some of their skills less valuable, increasing to nearly one in five (17%) for working Canadians.
asserted
some → say → Canadians
Roughly equal proportions of working Canadians are concerned AI could reduce their income, hours or earning potential (16%) or reduce job opportunities within their field (15%).
uncertain
AI → work → field
Alongside AI concerns and economic uncertainty, nearly half of Canadians (47%) say they have tried to earn additional income in some way, reflecting a broader ‘second-income economy’.
asserted
they → say → economy
The most common approach is selling goods online (21%) using platforms such as Facebook Marketplace, eBay, or Etsy, while one in 10 (11%) have learned new skills to improve future job prospects.
asserted
one → sell → prospects
About one in 10 have worked a second job (9%) or monetized a hobby, skill or passion project (9%), while eight percent have taken on freelance or contract work.
asserted
percent → work → work
Younger generations are leading many of these efforts to supplement their income and strengthen their finances.
asserted
generations → lead → finances
More than one in five Gen Z Canadians (22%) have learned new skills to enhance their career opportunities, while one-third of Millennials (34%) have sold goods online, compared with one in five Canadians overall (21%).
asserted
third → learn → Canadians
Gen Z is also more likely to report working a second job (16%), operating a side business (10%), monetizing a hobby or passion project (14%) or using AI tools to generate income (9%).
asserted
Z → report → %
“AI is adding another source of uncertainty around how people work and what they may be able to earn in the future, while many Canadians are also looking for additional ways to bring in income,” says Bazian.
uncertain
Bazian → add → income
If someone is taking on more work but their debt balances are not coming down, it may be worth looking at whether the overall debt load is manageable on their regular income.”
uncertain
load → take → income
Debt pressure persists even as Canadians look for lower rates
Despite rate stability, with the Bank of Canada policy interest rate at 2.25%, many Canadians continue to feel financial pressure.
asserted
Canadians → persist → pressure
Three in five (61%, -1 pt) say they desperately need interest rates to come down, and more than half (51%, -2 pts) worry they could face financial trouble if rates rise.
uncertain
rates → say → trouble
say even if rates decline, they are concerned about their ability to repay debt.
asserted
they → say → debt
Just one in five (22%, +1 pt) say they could absorb an additional $130 in monthly interest payments, while more than one-third (35%, unchanged) say they could not.
uncertain
they → say → payments
“Lower interest rates would be welcome relief for many households, but they are not a cure-all for people already struggling with debt,” says Bazian.
asserted
Bazian → struggle → debt
“The fact that four in 10 Canadians remain concerned about repaying their debt even if rates decline shows that, for many, the challenge goes beyond borrowing costs.
asserted
challenge → remain → costs
Lower rates may help ease some pressure, but they may not be enough on their own to make an unmanageable debt load manageable.”
With job and income uncertainty adding to the financial risks households may be weighing, Bazian says people carrying debt do not need to wait until they have missed payments to take a closer look at whether their situation is sustainable.
uncertain
situation → help → look
Understanding how much is owed, what it costs to service that debt each month and how the household budget would hold up if income changed can help identify financial pressure before it becomes more difficult to manage.
asserted
it → understand → pressure
…and 20 more, not listed.
The Aporia
