On the bright side, six-in-10 Ontario residents expect national economy to improve
TORONTO, March 1 /CNW/ - The February RBC Canadian Consumer Outlook report finds that 30 per cent of Ontarians are experiencing job anxiety, representing a four-month high and the highest level in the country (job anxiety is 25 per cent nationally). While the rate of job anxiety increased in Ontario and Atlantic Canada (24 per cent, up six percentage points), it fell in all other regions of the country.
Respondents from Ontario are equally split about the current overall state of the Canadian economy, with half describing it as good and half describing it as bad. Ontarians echo the rest of Canada's expectation that the national economy will improve over the next year, with 63 per cent expecting improvement, compared to 62 per cent nationally. Residents of Ontario are also on par with the national average when considering their short term outlook for the Canadian economy, with 41 per cent expecting it to improve in the next three months.
"The big issue for Ontarians is job security," said Jennifer Tory, regional president, Greater Toronto Region, RBC. "We are always available to help our clients plan for uncertain times - our doors are open."
Other provincial highlights include:
- Personal Financial Situation (Overall): Four-in-10 Ontarians
(43 per cent) expect their personal financial situation to improve
over the next year, slightly below the national average of 45 per
cent. In the short term, fewer Ontario residents are expecting
improvement, with 30 per cent expecting their personal financial
situation to improve in the next three months, on par with the
"While Ontarians may be experiencing heightened levels of job anxiety, we expect to see improvement in the labour market as the year progresses," said Robert Hogue, senior economist, RBC. "In 2010, we expect growth in Ontario of about 2.6 per cent."
About The RBC Canadian Consumer Outlook Index
The RBC Canadian Consumer Outlook Index, benchmarked as of November 2009, is based on the results of an online survey of 1,064 Canadians, ages 18 and over, conducted by Ipsos Reid between February 9 and 12, 2010. This data represents the most timely and comprehensive snapshot of consumer attitudes regarding their finances and the economy in Canada. Weighting was then employed to balance demographics and 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. A survey with an unweighted probability sample of this size and a 100 per cent response rate would have an estimated margin of error of +/-3.1 percentage points, 19 times out of 20, of what the results would have been had the entire population of adults in Canada been polled.
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For further information: For further information: Rina Cortese, RBC Corporate Communications, (416) 974-6970; Gillian McArdle, RBC Media Relations, (416) 974-5506