Hopefulness about the future and overall satisfaction with life are dwindling for many Canadians, a new study reveals.
“Less than half (48.6 per cent) of Canadians aged 15 years and older were feeling highly satisfied with their lives in 2024, down from 54 per cent three years earlier,” according to Statistics Canada.
Canadians filled out a questionnaire by the Canadian Social Survey collected between April 2021 to March 2024. The survey was based on Quality of Life indicators, a framework used by the federal government to shed light on the population’s well-being. The categories covered in the survey included prosperity, health, good governance, environment and society.
The study, released on Sept. 13, used the data from the survey to provide insights into the lives of Canadians.
The number of Canadians included in the study was not immediately provided to the National Post.
Younger adults unsatisfied; seniors steadily happy
Notably, the level of life satisfaction for younger Canadians between the ages of 25 and 34 has been declining since 2021.
“By 2024, fewer than 4 in 10 (36.9 per cent) of these adults were highly satisfied with their lives,” per Statistics Canada.
Racialized groups in the country also saw a drop in life satisfaction compared to non-racialized counterparts. Racialized groups are made up of South Asian, Chinese, Black, Filipino, Latin American, Arab, Southeast Asian, West Asian, Korean, Japanese, others visible and non-visible minorities and Indigenous people, as defined by Statistics Canada.
The decline in satisfaction for racialized groups was more than five times higher than the decrease observed for non-racialized Canadians, the study said. “In 2024, over half (51.5 per cent) of non-racialized Canadians were happy with their lives,” it said.
Canadian seniors seemed to be content with their lives in 2024, at more than 60 per cent saying they were satisfied. This level has remained relatively stable since 2021.
What caused dissatisfaction among Canadians?
Financial struggles were a contributing factor to the overall decline in life satisfaction, although pinpointing possible reasons is “challenging,” Statistics Canada said.
More Canadians — 32.8 per cent — said they faced financial difficulties in 2024 compared to 18.6 per cent in 2021. Not surprisingly, those who did not struggle with money were more likely to report high levels of life satisfaction. Working-aged adults, racialized Canadians and persons with disabilities were most likely to have money problems from 2021 to 2024.
Those who struggled said they had difficulty meeting financial needs in terms of transportation, housing, food, clothing, and other necessary expenses in the past 12 months, per Statistics Canada.
The future is not hopeful for middle-aged adults
Overall, hopeful feelings toward the future have been declining for Canadians. Those who took the survey were asked: “Thinking about your life in general, how often would you say you have a hopeful view of the future?” If they responded “always” or “often,” they were considered hopeful.
The group with the most pronounced decline in hopefulness were adults aged 45 to 54. They went from 68.3 per cent hopeful in 2021 to 59.7 per cent in 2024. Younger Canadians aged 15 to 24 followed the trend of declining hopefulness over the years.
According to Statistics Canada, there are signs of a possible shift in outlook. Through ongoing surveys, there could be confirmation on “whether this upward movement continues.”
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