New data from the non-profit Angus Reid Institute (ARI) finds prospering Canadians expect the good times to keep rolling, while the struggling expect things to get worse.Over the past 18 months both the Struggling and Thriving groups on ARI’s Economic Stress Index have seen their ranks grow. The Struggling, from 25% to 29% as a proportion of the population and the Thriving from 19% to 25%. The middle groups, the Comfortable and Uncomfortable, have shrunk.Those worst off are expecting an even worse 12 months ahead. Three-in-five (61%) within the Struggling group say while their finances currently pose a challenge, the situation will have deteriorated further a year from now. Half of Canadians continue to struggle with grocery costs and two-in-five have difficulty with housing costs.Meanwhile, almost none of the Thriving expect to be worse off next year and three-in-five say they expect even better. Their housing, food and debt related challenges are minimal.The Struggling and the Uncomfortable, making up half of the Canadians population overall, are more likely to be concentrated in the 35-to-54 age group, where that proportion rises to three-in-five. For those with children in their households, the number who Struggle is eight points higher compared to those who do not have kids in their home (34% vs 26%).Among the Struggling, 50% would vote for the CPC if an election were held, while 21% would vote for the NDP and fewer for the Liberals. Across the Economic Stress Index, support for the Liberals rises as finances improve, while support for the CPC falls. Those best off, the Thriving, offer equal support to both parties (30% Liberal, 28% CPC).Half of Canadians continue to comprise either the Struggling (29%) or the Uncomfortable (22%) when it comes to ARI’s Economic Stress Index. These groups are formed based on their economic perspectives, their self-professed debt level and their ability to pay for groceries and housing costs. See more on the Index here. Over the past 18 months, the Thriving have increased by six points, while the Struggling have increased by a similar amount, from 25% to 29% of the population.Not all lower income households are Struggling or Uncomfortable, but there is certainly a correlation between income and placement on the index. Even among those in the higher income brackets, however, one-in-five say they face significant financial stress.Among provinces, New Brunswick leads the nation in reported financial stress, a province that will hold an election this October. Quebec leads among the thriving at 33%, followed by BC at 25%.Those most stressed are 35- to 54-year-olds where the proportion of the Struggling is at its highest (see detailed tables). Those with kids at home are significantly more likely to face financial stress.While the top three issues in Canada are largely agreed upon, there are important divergences among those between the Thriving and Struggling. Seven-in-ten (71%) among the Struggling say this is a key issue for the government to focus on, compared to 42% among the Thriving. Climate change drops precipitously as a focus for those worst off and taxes are of heightened importance.After peaking at 47%, the proportion of Canadians saying they are worse off now than they were 12 months ago has dropped five points. Yet, this proportion remains elevated compared to 2021 and prior. Optimism for the coming year remains at a similar level compared to the previous three years.Grocery costs have been a key focus of Canadians and their governments in recent years. This, after more than a 21% increase over a three-year period. Price increases have slowed, with grocery costs falling below overall inflation in February, rising by just 2.4% year-over-year. Correspondingly, ARI notes a four-point increase in those saying their grocery costs are manageable this quarter (from 44% to 48%).Those whose household income level falls below $100,000 annually are still more likely to say their grocery costs are a source of difficulty than ease, while even one-in-three among the higher income brackets voice some challenges in keeping up with their household food needs.While 56% say it's easy or manageable to pay their mortgage, 41% say it is not. Those who say housing costs are "very difficult" is highest in Alberta at 17%, something said by only 8% of Quebecers.
New data from the non-profit Angus Reid Institute (ARI) finds prospering Canadians expect the good times to keep rolling, while the struggling expect things to get worse.Over the past 18 months both the Struggling and Thriving groups on ARI’s Economic Stress Index have seen their ranks grow. The Struggling, from 25% to 29% as a proportion of the population and the Thriving from 19% to 25%. The middle groups, the Comfortable and Uncomfortable, have shrunk.Those worst off are expecting an even worse 12 months ahead. Three-in-five (61%) within the Struggling group say while their finances currently pose a challenge, the situation will have deteriorated further a year from now. Half of Canadians continue to struggle with grocery costs and two-in-five have difficulty with housing costs.Meanwhile, almost none of the Thriving expect to be worse off next year and three-in-five say they expect even better. Their housing, food and debt related challenges are minimal.The Struggling and the Uncomfortable, making up half of the Canadians population overall, are more likely to be concentrated in the 35-to-54 age group, where that proportion rises to three-in-five. For those with children in their households, the number who Struggle is eight points higher compared to those who do not have kids in their home (34% vs 26%).Among the Struggling, 50% would vote for the CPC if an election were held, while 21% would vote for the NDP and fewer for the Liberals. Across the Economic Stress Index, support for the Liberals rises as finances improve, while support for the CPC falls. Those best off, the Thriving, offer equal support to both parties (30% Liberal, 28% CPC).Half of Canadians continue to comprise either the Struggling (29%) or the Uncomfortable (22%) when it comes to ARI’s Economic Stress Index. These groups are formed based on their economic perspectives, their self-professed debt level and their ability to pay for groceries and housing costs. See more on the Index here. Over the past 18 months, the Thriving have increased by six points, while the Struggling have increased by a similar amount, from 25% to 29% of the population.Not all lower income households are Struggling or Uncomfortable, but there is certainly a correlation between income and placement on the index. Even among those in the higher income brackets, however, one-in-five say they face significant financial stress.Among provinces, New Brunswick leads the nation in reported financial stress, a province that will hold an election this October. Quebec leads among the thriving at 33%, followed by BC at 25%.Those most stressed are 35- to 54-year-olds where the proportion of the Struggling is at its highest (see detailed tables). Those with kids at home are significantly more likely to face financial stress.While the top three issues in Canada are largely agreed upon, there are important divergences among those between the Thriving and Struggling. Seven-in-ten (71%) among the Struggling say this is a key issue for the government to focus on, compared to 42% among the Thriving. Climate change drops precipitously as a focus for those worst off and taxes are of heightened importance.After peaking at 47%, the proportion of Canadians saying they are worse off now than they were 12 months ago has dropped five points. Yet, this proportion remains elevated compared to 2021 and prior. Optimism for the coming year remains at a similar level compared to the previous three years.Grocery costs have been a key focus of Canadians and their governments in recent years. This, after more than a 21% increase over a three-year period. Price increases have slowed, with grocery costs falling below overall inflation in February, rising by just 2.4% year-over-year. Correspondingly, ARI notes a four-point increase in those saying their grocery costs are manageable this quarter (from 44% to 48%).Those whose household income level falls below $100,000 annually are still more likely to say their grocery costs are a source of difficulty than ease, while even one-in-three among the higher income brackets voice some challenges in keeping up with their household food needs.While 56% say it's easy or manageable to pay their mortgage, 41% say it is not. Those who say housing costs are "very difficult" is highest in Alberta at 17%, something said by only 8% of Quebecers.
