Despite these anxieties, most employed job seekers remain confident in their current employers’ ability to provide job security, finds Express Employment Professionals: 72 per cent are confident in their company’s short-term prospects, and 66 per cent in long-term security. However, 75 per cent say changes in government policy have a greater impact on job security than decisions made by company leadership.
Recession fears drive insecurity
Recession fears are driving that doubt about job security, finds Express Employment Professionals.
Over half (53 per cent) of respondents expect a recession within the next 12 months, while 17 per cent believe Canada is already in a recession. Most job seekers (77 per cent) worry that any job they accept now could be at risk if the economy worsens, and 74 per cent are concerned about finding work during a potential or ongoing recession.
More than half (51 per cent) say they are more concerned about job security than they were a year ago.
In July, Canada’s job market experienced the largest decline in employment since the end of the pandemic, dropping by 41,000, reversing about half the increase from the month prior, according to Indeed.