Canadian Survey of Consumer Expectations-Third Quarter of 2021

Canadians feel more confident about the labour market

Although weaker than before the pandemic, consumer expectations for labour market conditions have improved. The reported likelihood of voluntarily leaving a job increased to pre-pandemic levels (Chart 4). This suggests that some people are more willing to change jobs now that the economy has reopened and vaccination rates have increased. It could also reflect pent-up demand for changing jobs. That is, some workers may have delayed looking for a different job while labour markets were weak earlier in the pandemic and when people were more concerned about the virus.

More respondents than before the pandemic would like to change jobs to obtain suitable hours (e.g., more hours, fewer hours or regular hours), and some would like to move to a different industry (Box 1). High job turnover tends to be associated with improved labour market conditions, and Canadians’ expectations for finding a job are now near pre-pandemic levels.

Canadians’ expectations for losing their job remain somewhat higher than they were before the crisis. And while perceptions of the labour market are improving, vulnerabilities remain, notably among visible minorities, Indigenous people and people with disabilities (Box 2). Respondents from Alberta also continue to express higher probabilities of losing their job than other Canadians.