Although Canada’s “middle class” appears to be shrinking, 78 per cent of Canadians believe they are part of the class category, a new survey reveals.
On Monday, research firm Pollara released results from its study titled “In Search of ‘The Middle Class’: Class Identity Among Canadians.” The firm surveyed 3,000 adults between Nov. 3-15 online.
The poll revealed that eight in ten Canadians consider themselves “middle class,” including 39 per cent of those earning less than $20,000 and 92 per cent of those earning more than $150,000. Most high-income earners surveyed considered themselves “middle class.”
Meanwhile, 63 per cent of Canadians consider themselves “working class,” while 32 per cent said they were “lower class,” followed by 32 per cent “poor,” 19 per cent “wealthy,” 22 per cent “upper class” and 15 per cent “rich.”
According to the respondents, key elements of being “middle class” include having an average income, living comfortably and being able to afford a house. When asked to define “middle class,” many Canadians described it as a comfortable lifestyle.
Canadians are also less optimistic about the future of Canada’s “middle class” now compared to any other time since nine years ago when Pollara started to track the data. Only 31 per cent are optimistic about the future of Canada’s “middle class,” down over 20 points from 2020.
Meanwhile, Canadian parents are increasingly pessimistic about their children’s future, as only 52 per cent are confident their kids can be middle class (or higher) through hard work, compared to 79 per cent of Canadians saying this in 2020.
The study also reveals that 43 per cent of “middle class” Canadians are just getting by with no savings and 15 per cent are falling behind on their monthly expenses. On the other hand, 32 per cent of “middle class” residents report being ahead with some savings and 11 per cent say they are financially secure.
A probability sample of this size carries a margin of error of plus or minus 1.8 percentage points, 19 times out of 20.
