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Canadians in the workforce reported an increase in financial wellbeing, yet stress about finances on the job resulting in loss productivity, according to a new survey.

The National Payroll Institute released the results of a survey on the financial health of working Canadians Wednesday highlighting an improvement in financial comfortability.

“Saving more seems to be one of the ways that Canadians may be preparing for future challenges resulting from the rising cost of living and the impacts of tariffs and the economy and job security,” Peter Tzanetakis, president and CEO of the National Payroll Institute told BNNBloomberg.ca in an interview.

Workers were placed into one of three categories: financially coping, financially comfortable or financially stressed. The survey found that the overall improvement in the financial health of working Canadians appears to be the result of a greater emphasis on saving.

The survey, conducted by the Financial Wellness Lab of Canada, found the proportion of financially stressed workers decreased from 41 per cent in 2024 to 36 per cent in 2025. The decrease follows four years of increases.

About 51 per cent of survey respondents reported trying to save more this year, up from 42 per cent in 2024. The share of Canadians who managed to save $10,000 or more in the past year also rose to 29 per cent, up from 23 per cent.

Gen Z workers holding their own

Gen Z workers demonstrated proactive financial behaviours proven to improve financial wellness, according to the survey.

“I think one of the factors leading to the results is that they’re saving more now than last year, and are focused on paying off debt,” said Tzanetakis. “Both have consistently shown to be key determinants of financial health.”

Gen Z workers save an average of 11 per cent of each pay cheque, higher than any other generation and 30 per cent of Gen Z respondents reported saving $10,000 or more in the past year alone. Further, 26 per cent of Gen Z respondents expressed confidence that they will be able to afford a home in their desired area within the next five years.

Gen Z also holds the second-highest share of workers in the financially comfortable cluster, at 32 per cent, just behind boomers and surpassing both millennials and Gen Xers.

However, Young workers are equally as stressed as millennials and Gen Xers. About 37 per cent of Gen Z are in the stressed cluster, which is equal to Gen X and slightly below millenials, at 38 per cent.

Money on the mind

While financial wellness has increased, workers reportedly think about their personal finances on the job, impacting their workplace performance.

“Workers are still feeling financial pressure, and they’re bringing those financial worries to the workplace,” said Tzanetakis.

Over half of all workers surveyed (51 per cent) admit to spending at least 15 minutes per day thinking about their finances on the job, a notable increase from 2024 (45 per cent). Further, six per cent now spend more than 90 minutes per day worrying about their finances, while nearly one in four admits stress related to personal finances has impacted their workplace performance.

The result is $69.5 billion in lost productivity annually, an increase of $15.6 billion from 2024. Financial stress results in lost time and a host of workplace challenges according to the report. That includes:

47 per cent of workers reported decreased motivation at work. 28 per cent strained relationships at work33 per cent take time off as a results.Methodology

Results for the seventeenth annual National Payroll Institute Survey on Working Canadians were derived from an online survey of 2,320 employed Canadians, 75 per cent of which were full-time workers. The survey was conducted between May 6 and May 20.