As trade tensions between Canada and the U.S. intensify and the cost of living continues to rise, nearly half of Canadians are experiencing increased anxiety, according to new data. Tariffs have quickly emerged as a significant factor contributing to financial stress.
Last month, GreenShield, a Canadian-owned non-profit health and benefits provider, partnered with Mental Health Research Canada (MHRC) to identify key mental health trends amid economic and political uncertainty. The findings indicate a sharp increase in anxiety levels, with financial strain and political instability among the primary stressors.
According to the data:
• In 2024 there was a declining trend in the number of Canadians reporting negative mental health impacts due to economic conditions; however, the start of 2025 has seen a sharp reversal, with 42 per cent now saying the economic downturn is negatively affecting their mental health, and 39 per cent worrying about their ability to pay bills.
• Nearly 50 per cent of Canadians reported increased anxiety in the past month, with concerns highest among lower-income households and women.
• Almost 40 per cent of Canadians now cite political unpredictability and tensions with the U.S. as a source of heightened anxiety – second only to concerns over the rising cost of living (52 per cent).
• Anxiety levels are the highest in Ontario and British Columbia.
Despite the growing need for mental health support, cost and accessibility remain significant barriers to care. In response, GreenShield is launching an initiative to offer two months of free therapy to Canadians looking to start their mental health journey. The program includes two sessions with a licensed therapist and unlimited access to digital cognitive behavioural therapy (CBT), with no membership or commitment required.
“Time and again, we’ve seen the deep connection between economic uncertainty and declines in mental well-being. As a proudly Canadian and purpose-driven company, we’re committed to reducing barriers to care for all Canadians as we collectively navigate this challenging time,” said Zahid Salman, president and CEO of GreenShield.
“This is about Canadians helping Canadians. Mental health is not just an individual issue – it’s a national one. Ensuring Canadians have access to support during tough times strengthens the entire country.”
GreenShield’s initiative draws on lessons from previous economic downturns, including the 2008 financial crisis and the COVID-19 pandemic, both of which saw significant increases in mental health challenges. Officials suggest these historical trends underscore the need for accessible mental health care during times of financial uncertainty.
“Our data confirms that today’s political and economic climate is fueling widespread stress and anxiety,” said Akela Peoples, CEO of MHRC.
“Failing to address the mental health toll of this instability could have long-term consequences for all of us as a country. We’re proud to be sharing insights that can help Canadians build better solutions and we applaud GreenShield’s impressive leadership in offering free support to all Canadians.”
In a release, GreenShield officials indicated that as a non-profit, GreenShield operates without profit-driven shareholders, allowing the company to prioritize people and purpose over profits.
Through GreenShield Cares, the organization has committed $75 million to improve the health of over one million Canadians by the end of the year, with a focus on mental health, essential medicines, and chronic disease management. By offering free therapy with an inclusive network of therapists, GreenShield aims to reduce barriers to care and advance its mission of Better Health for All.
Canadians can access GreenShield’s free therapy initiative from March 28 to May 28, 2025 here.
Research Methodology
National Poll 23
MHRC’s national polling is part of a multi-year effort to track mental health trends following COVID-19. The online survey was conducted among a sample of 4,050 adult Canadians from Feb. 4 to Feb. 24, 2025. This marks the 23rd poll in this ongoing study. Results have been weighted by census data for gender, age, and region to ensure representativeness.
Omnibus Survey
A separate national survey was conducted to assess Canadians’ anxiety related to economic and political factors. The survey, conducted between Feb. 20 to Feb. 25, 2025, sampled 1,500 adults. Data was weighted according to census demographics to ensure accuracy, with a margin of error of +/- 2.53 per cent, 19 times out of 20.
