Among Canadians aged 18 to 24, 38 per cent now say jobs and unemployment are a top concern, more than double the 18 per cent who felt this way at the start of 2025, according to new data released April 28, 2026, by the non-profit Angus Reid Institute.

While Canada's national unemployment rate held steady at 6.7 per cent in March, the report reveals a labour market that feels far weaker than headline numbers suggest, with youth unemployment at 13.8 per cent—more than double the national average and a level not seen outside the pandemic since 1994.

The report documents how unemployment challenges extend well beyond official statistics. One-in-six Canadian households (16%) report knowing someone currently unemployed and searching for work, while 21 per cent say unemployment is affecting close friends or family. Among those exposed to the job market—either looking for work themselves or with close connections to job seekers—four-in-five describe the current job market as "bad" (38%) or "terrible" (39%), with just 13 per cent offering a positive assessment. The most common frustrations among job seekers are lack of response from employers (68% report this) and a perceived shortage of available jobs in their area (66%). Only three-in-10 employed Canadians say they feel totally secure in their jobs, while 14 per cent feel insecure to some degree. Canada's economy lost 84,000 jobs in February alone, half of which were categorized as youth jobs.

The report finds that financial vulnerability remains entrenched for many Canadians, with one-in-five (21%) falling into a "high financial pressure" category marked by job insecurity and pessimism about the future. According to the Institute's analysis, these individuals are far more likely to experience or be surrounded by unemployment and job insecurity, with 27 per cent experiencing household unemployment and one-in-three knowing close friends or family members looking for work—considerably higher numbers than any other group.

The share of Canadians who say they are worse off than a year ago has fallen to 35 per cent but remains roughly twice the proportion who say they are better off. Meanwhile, more than three-quarters of Canadians (77%) say they've taken a financial hit recently from rising oil and gas prices linked to the war in Iran, with 68 per cent reporting they've changed their behaviour since the war began—up from 63 per cent in the early weeks of the conflict.

The report explains that the challenge for governments and families is to create better economic outcomes from difficult circumstances, but notes the difficulty is evident in self-reported outlooks. Three-in-five within the high financial pressure group say they expect their financial situation to be worse next year, rather than seeing any improvement. The data was collected as the federal government announced plans Tuesday to invest billions in skills training and workforce growth as part of its spring economic statement.

While some indicators offer relief—inflation is cooling, rents have dropped from record highs, and the proportion saying housing costs are difficult to manage has dropped 13 points in under two years (from 44% to 31%)—the report concludes that inequality has continued to grow year-over-year, setting another record in 2025 for the gap between the haves and have-nots. For Canada's most financially pressed households, particularly those facing high pressure from compounding challenges, the job market's weakness isn't just a statistic—it's a daily reality that shapes everything from how often they drive to whether they believe next year will be any better.