A recent Abacus survey reveals that Canadians are increasingly concerned about the high cost of living and the economy, surpassing their worries about Donald Trump and his administration. This marks a significant shift from previous trends, where Trump was often the primary concern among Canadians.

David Coletto, chair and CEO of Abacus, noted that this change reflects a growing anxiety about macroeconomic issues, particularly among younger Canadians. Many are facing job insecurity and rising youth unemployment rates. The survey, set to be published on Sunday, found that 61% of Canadians identified the rising cost of living as one of their top three concerns. This was followed by economic issues at 39% and concerns about the Trump administration at 38%.

Coletto explained, "For the last three years, people didn’t really worry about losing their job. They worried about being able to pay their bills with the income that they had. Now, insecurity around jobs is something that’s new and a new problem for this government to have to deal with."

In response to these economic challenges, Prime Minister Mark Carney announced several measures on Friday aimed at strengthening the economy. These include a $5 billion fund for sectors affected by U.S. trade issues and $450 million allocated for Employment Insurance training programs to help re-skill 50,000 workers over the next three years.

Despite the economic uncertainties, the poll indicates that the Liberal Party remains competitive. If a federal election were held today, 43% of respondents said they would vote for the Liberals, while 40% favored the Conservative Party led by Pierre Poilievre. The New Democratic Party (NDP) garnered 6% support. However, the proportion of Canadians with a positive impression of Carney has declined to 45%, down from 51% in June.

Coletto emphasized that the Liberals must address economic issues to maintain their support. The survey suggests that Canadians perceive the Conservatives as better equipped to handle financial concerns, such as the rising cost of living and job security. In contrast, the Liberals are viewed as more focused on international threats posed by Trump, Russia, and China.

"There are signals that issues around the economy are rising," Coletto stated. "And as a result, some of those vulnerabilities on some of these other issues besides Trump might start to bite them if they don’t address them."

The survey was conducted with 1,500 Canadians from August 28 to September 2. Abacus reported a margin of error of +/- 2.5%, 19 times out of 20. The data were weighted to reflect Canada’s population demographics, including age, gender, and region. Totals may not add up to 100 due to rounding.