Economic Slowdown Causes Job Anxiety To Rise, Nearly One Half (43%) Take Hit
From Financial Markets

Toronto, ON - With mounting fears and growing concern over a possible economic recession in the United States, a new Ipsos Reid poll conducted on behalf of CanWest News Service and Global Television finds that job anxiety is beginning to rise in Canada. In fact, 17% report that they or someone in their family is worried about losing their job or being laid off, a proportion which is up two points since January 11th and three points since last August. That proportion rises to 23% in Ontario and 21% in Quebec.

The recent rollercoaster ride seen on stock exchanges around the globe appears to be having a negative impact on many Canadians. Four in ten (43%) claim that `the recent decline in the stock market is having a negative impact' on them or their immediately family.

The growing fear and tangible evidence of an economic slowdown is likely reflected in the fact that over eight in ten (84%) `Agree' (strongly 39%/45% somewhat) that `the Canadian economy is dependant on the U.S. economy' and that `if the American economy suffers, so too does Canada's economy'. Just 15% disagree (10% somewhat/5% strongly) with this sentiment.

In fact, Canadians' economic outlook appears to be less optimistic than before, with one third (35%) of Canadians--up from 24% two weeks ago--indicating that they believe the Canadian economy will `get worse' in the next year. Just one quarter (23%) now believe that the economy will `improve' (unchanged), while four in ten (41%) believe the condition of the economy will `stay the same' (down nine points since January 11).

Despite the fact that Canadians believe that Canada and the United States' economies are linked, just 17% of Canadians believe that at some point during 2008 Canada will `slip into a recession'; however, this does represent an increase of six points in the last two weeks alone. Two thirds (65%) are of the opinion that the economy will `slow down but continue to have some growth' (up two points), while just 15% think that the economy will `continue to grow as strongly as it has in recent years' (down nine points since January 11).

• Interestingly, Quebecers (21%) and Ontarians (20%) are most likely to believe that Canada will enter into a recession.

Furthermore, slightly fewer than eight in ten (78%) would rate the state of the Canadian economy as being `good' (67%) or `very good' (11%). This proportion is down six points from just two weeks ago when 84% of Canadians gave the economy a `good' (67%) or `very good' (17%) appraisal, and down nine points since last August (69% good, 18% very good).

Furthermore, four in ten (38%) disagree (13% strongly/25% somewhat) that `Canada's economy is healthy, and so we'll avoid any major economic downturn in the future.' Still, a majority (58%) are in agreement (13% strongly/45% somewhat) with this statement. That said, most (86%) are confident that they'll `weather the storm', even if the economy takes a hit.

And what do Canadians think should be done about this worrisome situation? Eight in ten (81%) agree (strongly 41%/somewhat 41%) that Canada's `political leaders should be doing more to help prevent an economic slowdown in Canada', while two in ten (17%) disagree (strongly 4%/somewhat 13%) that this should be the case.

In fact, nearly one half (47%) agree (16% strongly/31% somewhat) that `Canada's political leaders should not be involved in trying to control the economy'. The other half (50%), though, would disagree (22% strongly/27% somewhat) that Canada's political leaders should not be trying to meddle with the economy.

These are the findings of an Ipsos Reid poll conducted on behalf of CanWest News Service and Global Television from January 22 to January 24, 2008. For the survey, a representative randomly selected sample of 1001 adult Canadians was interviewed by telephone. With a sample of this size, the results are considered accurate to within 1773.1 percentage points, 19 times out of 20, of what they would have been had the entire adult population of Canada been polled. The margin of error will be larger within regions and for other sub-groupings of the survey population. These data were weighted to ensure that the sample's regional and age/sex composition reflects that of the actual Canadian population according to Census data.

For more information on this news release, please contact:
John Wright
Senior Vice President
Ipsos Reid
Public Affairs
(416) 324-2002
[email protected]

About Ipsos Reid
Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 600 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.

To learn more, please visit www.ipsos.ca.

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