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Canadians are feeling pessimistic about their place in the economy: study

Summary

Canadians are feeling down about their economic lot in life and that could be doing damage

Gloomy findings from a pair of recent surveys could be telling of further economic pain in the future

VANCOUVER (NEWS 1130) – Surveys done by EKOS Research Associates in 2002 and again in 2015 show the number of Canadians who feel we are part of the middle class has slipped. About 70 per cent put themselves in the middle in 2002 compared to 47 per cent in 2015.

Study author Frank Graves says only 13 per cent think their kids will be better off than they are. “You look at countries which are more likely to think their kids will be doing better. Those places are doing better right now. SO this sense of gloom and negativity can have a very profound and negative effect if it’s not dealt with.”

Graves believes this shows we’re feeling cheated by the so called “American Dream”. He says policy makers can use this to their advantage. “Come up with a new economic blueprint something which restarts progress we saw in the 20th century that seems to be so elusive today.”