Survey shows boomers, millennials, and other age groups split on affordability and economic issues
With campaign season in full swing, a new survey from Abacus data shows how the fiscal and financial concerns that could attract votes are also starkly varied across different voter demographics.
In a recent election bulletin, Abacus Data published results from a survey of 3,000 Canadian adults it conducted from August 6 to 11, 2021.
Cutting through different generations, the research firm found that while costs of living appears as a top election issue for almost all groups – only those from the silent generation didn’t name it among their top five – its prevalence as a concern varies within each demographic cohort.
For example, 41% of the silent generation and 52% of boomers said cost of living was a key election issue for them. In contrast, 66% of Gen Xers and 71% of millennials, as well as 62% of younger millennials and Gen Z, identified it as a point of concern.
The divide was also pronounced when it came to housing, an issue that also proved more pressing to younger generations. While only 13% of the silent generation rated it as a priority, 24% of boomers said it was a concern, as did 36% of Gen Xers and 41% of millennials.
“[W]hen baby boomers were young adults it took them an average of 5 years of full-time work to save for a 20% down payment, compared to today where it will take young adults 14 years of full-time work,” said Oksana Kishchuk, a research consultant at Abacus Data.
Meanwhile, government spending and deficits were top of mind for 44% of the silent generation respondents and 38% of boomers. From there, the sense of urgency dwindled to 30% among Gen Xers and 25% millennials; younger millennials and Gen Z respondents were even less bothered, as just 18% from the group identified it as an election priority for them.
The generation gap wasn’t as wide with respect to taxes. The issue was cited by 31% of silent-generation respondents, 36% of boomers, 43% of Gen Xers, and 41% of millennials.
