Young Canadians are coming of age in one of the toughest financial environments in decades, and a new national survey suggests it’s reshaping how confident they feel about the future.
Research from GreenShield and Mental Health Research Canada (MHRC) (1) finds that more than 80% of youth feel stressed or anxious about what lies ahead — with the rising cost of living, unstable job markets and basic affordability forming the core of their financial worries.
The survey shows that 70% of youth consider cost of living the biggest obstacle to the life they want to build, and 76% believe larger economic forces — inflation, wages, job availability — will determine their financial future no matter how hard they work.
“Canada’s youth are navigating a perfect storm of economic instability a…
Young Canadians are coming of age in one of the toughest financial environments in decades, and a new national survey suggests it’s reshaping how confident they feel about the future.
Research from GreenShield and Mental Health Research Canada (MHRC) (1) finds that more than 80% of youth feel stressed or anxious about what lies ahead — with the rising cost of living, unstable job markets and basic affordability forming the core of their financial worries.
The survey shows that 70% of youth consider cost of living the biggest obstacle to the life they want to build, and 76% believe larger economic forces — inflation, wages, job availability — will determine their financial future no matter how hard they work.
“Canada’s youth are navigating a perfect storm of economic instability and emotional strain,” Zahid Salman, President and CEO of GreenShield, said in a statement. “Supporting youth mental health is not just about promoting well-being, it’s about investing in Canada’s future and ensuring every young person can thrive."
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The data from MHRC paints a picture of a generation feeling financially stretched long before they can establish savings or stability. The report shows just how pervasive those concerns have become: Nearly half of young Canadians say they spend more than half of their income on necessities, and only a small minority feel they have the security to plan ahead.
Affordability worries also intersect with labour-market realities. One-third cite job insecurity as a major source of stress, and 30% say the broader job market is directly hurting their well-being — twice the rate of adults over 30. Limited career opportunities, shrinking entry-level openings and unpredictable contract work all contribute to the feeling that financial progress is increasingly out of reach.
Additional findings reveal that only 21% of youth feel financially secure today, and 41% spend half or more of their income on essential expenses.
Even regionally, concerns run high: In Ontario, 85% of youth report anxiety about their short-term financial future — the highest among all provinces.