Less than a third of the population is optimistic about the future of Canada’s middle class, according to a new poll, which found that optimism has plummeted since 2020.
The survey also found that Canadian parents are increasingly pessimistic about their children’s future. Just 52 percent of parents said their children could attain a middle-class or higher status through hard work—marking a substantial drop from the 79 percent reported in 2020. Additionally, the survey found a prevailing notion that the Canadian middle class is “shrinking,” with 77 percent of respondents expressing this belief.
Pollara highlighted that the proportion of Canadians who consider themselves among the middle class has remained relatively stable during this period. Currently, 78 percent perceive themselves as part of the middle class, marking a 2-point increase from 2020.
According to the survey, two-thirds (67 percent) of Canadians define being middle class as having “an average income.” However, it noted that 39 percent of Canadians earn under $20,000 annually and 92 percent of those earning over $150,000 consider themselves part of the middle class.
Pollara asked survey participants to define “middle class” in their own words. A majority characterized it as having a comfortable lifestyle, with an average income and the ability to afford a house identified as the primary components.
The survey found that homeowners are more inclined to identify as middle class (86 percent) compared to renters (65 percent). This aligns with a StatCan report which said that in October 2023, individuals living in rented dwellings were more likely to face financial challenges (41.3 percent) than those in homes owned with a mortgage (36.1 percent) or without a mortgage (20 percent).
The Pollara survey was conducted online, randomly selecting a sample of 3,000 adult Canadians. The survey carries a margin of error of plus or minus 1.8 percent, 19 times out of 20.
