Hard work doesn’t pay off the way it used to. Young people today earn less than they did in the 1970s, when today's seniors were young. That's a big reason why less than 40% of young Canadians expect to enjoy a better standard of living than their parents.

Hard work doesn’t pay off the way it used to. Young people today earn less than they did in the 1970s, when today's seniors were young. That's a big reason why less than 40% of young Canadians expect to enjoy a better standard of living than their parents.

Good jobs with decent wages (never mind health benefits, pensions, and paid vacation) are becoming harder to find. Young workers are more likely to have part-time, contract, gig, and other forms of precarious work – not the full-time, secure positions more often available to previous generations.

By extension, those age 25 to 44 are also more likely to report financial difficulty compared to those age 65+.

When falling wages meet high and rising prices on things like homes and child care, the result is young people squeezed for time and money.