An important gauge of a country’s economic confidence is whether parents believe their children will be better off than they were. A new global survey has found that the majority of adults in high-income nations think children in their countries will be worse off – and Canada is near the bottom of that pessimistic pack.
In Canada, only 16 per cent of adults said they believe children will be better off financially than their parents, tying with Japan for the second-lowest share holding that view, according to the survey of adults in 36 countries by the Pew Research Center. Adults in France came in last, with only 14 per cent seeing a sunnier future for children.
Pessimism has risen in Canada since the pandemic. Pew conducted a similar survey in 2019 that found 66 per cent of adults here believed children in Canada would be worse off financially than their parents. In 2024, that share had jumped to 78 per cent.
The latest survey involved interviews with 45,103 adults worldwide between Jan. 5 and May 22 of last year.
The dour outlook comes amid political upheaval that’s been sweeping the world, with incumbent governments toppling in the wake of high inflation and interest rates. Prime Minister Justin Trudeau’s decision to step down followed mounting dissatisfaction with his management of the economy.
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