Economic Uncertainty and High Cost of Living Causing Anxiety for Canadian Job Seekers
A TransUnion survey found 51% of Canadians cut discretionary spending and 40% now check credit reports monthly as fraud concerns rise.
- On Wednesday, July 22, 2026, TransUnion, a global information and insights company, released a survey finding that 51% of Canadians have reduced discretionary spending on dining, travel and entertainment as inflation pressures persist.
- Inflation ranks among the top three household concerns for 86% of Canadians, while half reported their income is failing to keep pace with rising prices. These affordability pressures are forcing households to reassess spending priorities.
- Consumers are adjusting habits across multiple categories: 26% cancelled subscriptions or memberships, while 18% accelerated debt repayment. These actions reflect households prioritizing financial stability amid sustained cost-of-living pressures.
- As fraud and data breaches become increasingly common, 40% of Canadians now check their credit reports at least monthly, up three percentage points year over year. This proactive monitoring reflects growing financial vigilance.
- While 45% of Canadians expressed optimism about household finances over the next 12 months, 25% plan to apply for new credit or refinance existing debt. Households remain cautious despite modest signs of financial recovery.
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The Toronto Star
Economic Uncertainty and High Cost of Living Causing Anxiety for Canadian Job Seekers
TORONTO, July 22, 2026 (GLOBE NEWSWIRE) -- Finding a job feels difficult for many Canadians in the market for work, especially when the right role must match their qualifications, pay
The Hamilton Spectator
Financial PostCanadians Show Signs of Financial Improvement but Continue to Feel the Cost-of-Living Squeeze: TransUnion Canada Study
86% of Canadians surveyed rank inflation among their top three household financial concerns; 51% continue to cut discretionary spendingDespite improving financial optimism over household finances, 50% say their income isn’t keeping pace with inflationOne quarter (25%) of consumers plan to…
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