Keeping a Steady Income a Source of Financial Stress for 45% of Canadians

Toronto, ON - Keeping a steady income tops the list of sources of financial stress, according to an Ipsos Reid poll conducted for Global News. Nearly half (45%) say that their income or keeping a steady income causes them stress (20% a lot of stress/25% some stress), topping the list of possible causes of financial stress. Other sources of financial stress are as follows:

• Four in ten (40%) Canadians are stressed about saving for retirement (17% a lot/22% some), with BC residents in the lead (45%).
• Four in ten (37%) confess that saving for big-ticket items, like a car or a down payment for a home, causes them stress (14% a lot/22% some), with Ontarians (40%) being most stressed about this.
• One in three (33%) are stressed (15% a lot/18% some) about making bill payments on time (led by Quebecers (37%).
• One in three (31%) say their credit card debt causes them stress (14% a lot/17% some), led by those in BC (35%).
• Three in ten (30%) say their mortgage/rent payment causes them stress (13% a lot/17% some), with Albertans (36%) and British Columbians (36%) stressing most about this.
• One quarter (24%) are stressed (8% a lot/16% some) about paying for dependents like children or aging parents, particularly in Ontario (28%).

These high levels of stress among many are likely a function of the fact that one quarter (25%) of working Canadians `disagree' (9% strongly/17% somewhat) that they `feel secure in their current employment'. Those most likely to say they don't' feel secure are those in Quebec (34%) and BC (31%), followed by those in Alberta (24%), Ontario (23%), Saskatchewan and Manitoba (19%) and Atlantic Canada (15%). Canadians under the age of 35 are most likely (30%) to feel anxious about their job security compared to older Canadians.

Likely searching for more stability, or perhaps still looking for their dream job, one in three (34%) working Canadians says that they are considering a career change in the next year (11% strongly/24% somewhat). Young adult Canadians are most likely (47%) to say they have this consideration, followed by those aged 35 to 54 (32%) or 55+ (18%). British Columbians (40%) are most antsy to try something new, followed by those in Ontario (38%), Alberta (36%), Atlantic Canada (32%), Saskatchewan and Manitoba (31%) and Quebec (25%).

Given the sputtering economy and rapidly changing economic conditions it's perhaps not surprising that so many Canadians feel insecure in their job. Reflecting on the federal government's performance when it comes to creating more jobs - one of its self-professed priorities - one in three (34%) Canadians overall thinks the federal government is doing a good job creating more jobs, while two in three (66%) disagree (26% strongly/40% somewhat).

These are some of the findings of an Ipsos Reid poll conducted between January 29 to Feb 3, 2015, on behalf of Global News. For this survey, a sample of 1,003 adults was interviewed via the Ipsos I-Say online panel. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within +/ - 3.5 percentage points, 19 times out of 20, had all Canadian adults been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

For more information on this news release, please contact:

Sean Simpson
Vice President
Ipsos Reid
Public Affairs
(416) 572-4474
[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.

About Ipsos

Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. Ipsos ranks third in the global research industry.

With offices in 87 countries, Ipsos delivers insightful expertise across six research specializations: advertising, customer loyalty, marketing, media, public affairs research, and survey management.

Ipsos researchers assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media and they measure public opinion around the globe.

Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of e1,712,4 million (2 274 M$) in 2013.

Visit www.ipsos.com to learn more about Ipsos' offerings and capabilities.