Many Canadians pessimistic about their economic future: Poll

By: Thomas I. Likness
EBC News Service

(Eagle News) — Remaining employed and not having enough money to retire top the list of concerns in a new public opinion poll released Thursday.

New data from the non-profit Angus Reid Institute suggests that just over half of Canadians are concerned someone in their household will lose their job in the near future.

As well, three out of five of those asked say they don’t think they’ll have enough money to support themselves in retirement.

Other findings from the survey note that 33% say they are worse off financially than they were 12 months ago.

Only 38% believe they will live as well as their parents’ generation.

When it comes to their own financial health, Canadians fall into one of four categories: The Thriving, 15%; Secure, 42%, Challenged, 25%; and Suffering, 18%.

Looking ahead, the poll found that 24% of the asked believe the coming year will bring economic prosperity while 21% were pessimistic about the next 12 months.

“Financial stress levels appear to be highest among both men and women between the ages of 35 and 54,” said the institute in its report. “Younger people, having perhaps fewer financial obligations, and older people, being more financially established, are less likely to be Suffering, though a considerable number are Challenged in each group.”

The survey was conducted from February 26 – March 3, 2021 among a representative randomized sample of 5,004 Canadian adults who are members of Angus Reid Forum. For comparison purposes only, a probability sample of this size would carry a margin of error of +/- 1.4 percentage points, 19 times out of 20.
(Eagle News Service)