2023 Youth Study Report: Generation Z and Millennials

This is the fifth edition of Leger’s Youth Study. This annual study helps organizations reflect on and refine their relationships with the younger generations. Based on a survey of 3,007 Canadians aged 15 to 39, the Youth Study profiles Generation Z and millennials. Through three sections, finances, the future and employment, this edition of the Youth Study aims to answer the question, what does it mean to be a young person in 2023?

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WHAT YOU WILL FIND IN THIS REPORT ON GENERATION Z AND MILLENNIALS…

Young Canadians express real fears about the future.

Whether realistic or cynical, they are nervous about the future and prefer to live in the moment. They do not trust traditional institutions to make things better, preferring to embody change locally.

Young Canadians are well aware of the unfavourable economic situation.

Quite pessimistic about the state of the financial markets and their access to property, young people adapt their behaviour according to soaring inflation. Faced with these uncertainties about their future, we are seeing a return to financial prudence for many of them. Gen Zers and millennials are overwhelmingly worried about Canada’s economic situation and don’t believe it will improve in 2023. Millennials aged 30-39 are more likely to be pessimistic about their personal economic situation.

74% of respondents in our study on Generation Z and millennials do not believe that Canada's economic situation will improve in 2023.

Young Canadian workers have a different relationship with employment than previous generations.

While important, employment is not necessarily central to Generation Z and millennials’ lives. Favoured by the labour shortage, they have the luxury of choosing a job that offers them work-life balance and exciting career challenges. If 2021 was the year of job mobility, 2022 may well be the year of stability, with a decreasing number of young workers saying they want to leave their company in the next year.

39% of respondents in our study on Generation Z and millennials expect managers, first, to create a pleasant work environment, second, to be honest with them (33%) and third, to listen to their needs (29%).

3 WEBINARS TO UNDERSTAND GENERATION Z AND MILLENNIALS BETTER

Returning this year, our Youth Study series unpacked the younger generations’ realities about what it means to be a young person in 2023.

We explored their realities through three webinars that shared insights about their finances, future and employment.

Couldn’t attend these webinars? Click here to watch them.