Canadians don’t Fear Economic Hardship

U.S. residents like to think they have a hardy pioneering spirit. But in a worldwide survey of national competitiveness, Canadians came in first. and GfK, an independent global market research company, asked 8,000 respondents in seven countries: “In the face of an economic hardship, how would you rate your country’s resilience/competitive spirit to arise from it?”

More Canadians gave their country the highest marks…

  1. 1. Canada (43 percent)
  2. 2. India (40 percent)
  3. 3. United States (35 percent)
  4. 4. Germany (26 percent)
  5. 5. Netherlands (22 percent)
  6. 6. United Kingdom (20 percent)
  7. 7. France (7 percent)

Sheryl Boswell, Monster’s marketing director thinks she knows why her fellow Canadians are so upbeat.

“Canada’s labour market has remained resilient in recent years,” she says, “with low unemployment and strong demand for talent across sectors – factors that have likely contributed to the confidence people have in our country’s competitive spirit.”

Interestingly, younger people are more confident than the baby boomer generation: 45 percent of those ages 18-49 believe Canada will come back in the face of an economic hardship. But only 41 percent of Canadians over 50 agree. Also, Canadians believe they’re the hardest-working country – 83 percent voted their workforce first, followed by China (75 percent) and the United States (74 percent).

Jeffrey Schwartz, executive director of Consolidated Credit Counseling Services of Canada isn’t surprised by the results.

“Canadians are a very proud people,” Schwartz says. “I notice the determination of our clients when they face their debt issues. They don’t give up. They pay off their debt and hoist themselves back on their feet.”

If you need help with budgeting or managing your money check out Consolidated Credit’s free
Personal Finance tools. If you want individual assistance don’t hesitate to call a trained counsellor at 888-287-8506.

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