Most Canadians expect further economic downturn, poll finds

A majority of Canadians are bracing themselves for a further economic downturn, as the COVID-19 pandemic is set to enter its second month.

According to a new Angus Reid opinion poll released Monday, 87 per cent of Canadians believe the worst is yet to come, while three per cent feel the worst is over and 10 per cent are unsure.

Just over a quarter of Canadians say they’re barely making ends meet financially, while 12 per cent say they’re prepared to weather a recession. The majority (61 per cent) say they’re in good shape but worry about the long-term, while five per cent were already suffering economic challenges before the spread of the virus.

Nearly half of Canadian households have experienced job loss due to recent cuts prompted by the virus, while 12 per cent anticipate fewer hours of work. A total of 27 per cent, however, don’t expect to lose work.

And while both provincial and federal levels of government have announced aid packages for businesses and individuals, thoughts differ on whether those will help.

About 45 per cent of those who are struggling due to COVID-19 job or wage impacts say the federal Canada Emergency Response Benefit — which began accepting applications Monday — will help them, while 39 per cent are skeptical about whether it’s enough.

The poll was conducted from April 1-3 among a representative randomized sample of 2,162 Canadians. A probability sample of this size would carry a margin of error of +/- two percentage points, 19 times out of 20.