Charting changes in Canadians’ mental and financial well-being, 2021 to 2024

Release date: September 13, 2024
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Infographic: Charting changes in Canadians’ mental and financial well-being, 2021 to 2024
Description: Charting changes in Canadians’ mental and financial well-being, 2021 to 2024

Life satisfaction has been decreasing in recent years. The share of Canadians who reported high life satisfactionNote 1 declined from 54.0% in mid-2021 to 48.6% in early 2024.

Factors tied to life satisfaction, mid-2021 to early 2024

  • Being older
    • 61.5% of seniors had high levels of life satisfaction, compared with 43.5% of 25 to 34-year-olds.
  • Being in good financial health
    • 59.0% of those with no financial difficulties had high levels of life satisfaction, compared with 29.0% of those experiencing financial hardships.
  • Living in a rural area
    • 58.4% of rural residents had high levels of life satisfaction, compared with 49.5% of urban residents.

Seniors and Canadians in good financial health have been less affected by recent drops in life satisfaction.

Feeling hopeful about the future is declining, with larger drops or lower levels observed among…

  • middle-aged adults
  • racialized men
  • 2SLGBTQ+ individuals

Feeling hopeful about the future

  • Mid-2021: 65.0%
  • Early 2024: 59.7%

More people were experiencing financial hardship in 2024 than in 2021 or 2022

Table 1 Table summary
This table displays the results of . The information is grouped by Mid-2021 (appearing as row headers), , calculated using (appearing as column headers).
Mid-2021 18.6%
Mid-2022 23.8%
Mid-2023 33.2%
Late 2023 37.4%
Early 2024 32.8%

Source: Foran, H., 2024, “Charting change: How time-series data provide insights on Canadian well-being,” Insights on Canadian Society, Statistics Canada Catalogue no. 75-006-X.

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Copyright

Published by authority of the Minister responsible for Statistics Canada.

© His Majesty the King in Right of Canada, as represented by the Minister of Industry, 2024

Use of this publication is governed by the Statistics Canada Open Licence Agreement.

Catalogue no. 11-627-M

Frequency: Occasional

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