A new survey shows Canadian workers are saving more money and feeling somewhat better about their financial wellbeing, yet many continue to bring money worries to work—costing billions in lost productivity.
The National Payroll Institute released its seventeenth annual survey on Wednesday, highlighting a shift toward financial comfort after years of rising stress. President and CEO Peter Tzanetakis said the change appears tied to more Canadians prioritizing savings as they brace for economic uncertainty, tariffs, and job insecurity. “Saving more seems to be one of the ways Canadians may be preparing for future challenges,” he told BNN Bloomberg.
The survey, conducted by the Financial Wellness Lab of Canada, divided workers into three clusters: financially comfortable, financially coping, and financially stressed. It found the share of financially stressed workers fell from 41 per cent in 2024 to 36 per cent in 2025, marking the first decline in four years. More than half of respondents reported making greater efforts to save this year, up from 42 per cent last year. Nearly 29 per cent managed to put away $10,000 or more—an increase from 23 per cent in 2024.
Gen Z employees, in particular, demonstrated proactive financial behaviours. They save an average of 11 per cent of their paycheques, more than any other generation, and nearly one-third managed to save $10,000 or more in the past year. A quarter also expressed confidence they’ll be able to buy a home in their desired area within five years. Gen Z now holds the second-highest proportion of financially comfortable workers, behind boomers. But despite their strong saving habits, 37 per cent remain financially stressed, a level on par with Gen X and just below millennials.
Even with these improvements, financial stress continues to weigh on Canadian workplaces. The report found more than half of all employees spend at least 15 minutes of their workday thinking about money—up from 45 per cent last year—while six per cent admit they spend more than 90 minutes each day worrying. Nearly one in four said money stress has affected their performance. The impact translates into an estimated $69.5 billion in lost productivity annually, an increase of $15.6 billion over last year.
Among the consequences, 47 per cent of workers reported lower motivation, 28 per cent experienced strained workplace relationships, and 33 per cent said they had taken time off due to financial worries.
The survey, based on responses from 2,320 employed Canadians (most of them full-time workers), was conducted between May 6 and May 20, 2025.