Facts & figures

Research
Insights

A look at some snippets of current and relevant research and statistics for Canadians and their families.

Share

Physical and cognitive health

According to the 2017 Canadian Survey on Disability, about one in five Canadians aged 15 or over has some form of physical or cognitive disability that limits their everyday activities.1

38%

The percentage of Canadian seniors aged 65 or over who have one or more disabilities.2

Did you know?

With a growing senior population in Canada, age-related health concerns and cases of dementia are on the rise. The Government of Canada reports there are over 400,000 Canadian seniors (those 65 or over) currently living with dementia—that number is expected to double by 2030.3

Please read our feature article, “The path of longevity,” which examines the realities of disability and the importance of planning ahead.

Youth and the workplace

4 million

The number of Canadian youth who will be entering the workforce over the next decade.4

According to a recent RBC research paper, “Humans Wanted: How Canadian youth can thrive in an age of disruption,” more than 25 percent of Canadian jobs will be heavily disrupted by automation over the next 10 years, and 50 percent will go through a significant overhaul of the skills required. Findings from this study show there will be an increasing demand for foundational skills in the workplace, including critical thinking, co-ordination, social perceptiveness, active listening and complex problem solving.5

Interested in reading more on this topic? Check out the article “Our changing labour landscape.”

75 percent pie chart

It’s estimated that by 2025, Millennials (those born roughly between 1980 and 1993) will account for 75 percent of the global workforce.6

Based on survey findings published by Universities Canada, more than 80 percent of employers that hire recruits with cross-cultural understanding and knowledge of the global marketplace say these employees enhance their company’s competitiveness.

In a similar survey, more than half of today’s undergraduates benefit from experiential learning (e.g. co-ops, internships and service learning) as part of their university education, and four out of five employers surveyed say co-op and internship students are a source of new talent and potential future employees.7

Education

A recent Ipsos poll showed that among parents saving for their child’s or children’s education, 36 percent wished they’d saved more each month and 30 percent wished they’d started saving for post-secondary education when their child or children were younger.8

Want to learn more about saving in an RESP? Please read “Is your family prepared for future post-secondary school?

16 percent and 47 percent bar chart

In 1999, only 16 percent of Canadian households with children had a Registered Education Savings Plan (RESP); by 2012, that share had jumped to 47 percent.

Based on data from the Government of Canada, by the end of 2016, about 51 percent of Canadian children (aged 0–17) had received the Canada Education Savings Grant (CESG), an incentive offered by the government based on contributions made to an RESP for an eligible beneficiary. What this means, however, is there is still almost half of eligible individuals who may not be benefitting from RESP contributions.9

When it comes to RESPs, interesting data indicates there’s a relationship between RESP savings and post-secondary enrolment. Specifically, youth from families who had opened and contributed to an RESP account were more likely to pursue post-secondary education than those whose families had not opened or contributed to an RESP.10

Giving and legacy

When it comes to giving, there’s a growing trend among individuals, especially younger individuals, to give to causes that address social, health or environmental problems and causes where the results of their giving are measurable. Specifically in relation to legacy, as key drivers of this changing definition, 66 percent of younger Canadians think societal causes have become more important in defining a legacy than wealth accumulation.11

To find out more about giving trends in Canada, please read “The picture of giving in Canada.”

68 percent pie chart

The percentage of Canadian men and women surveyed by The Economist Intelligence Unit who say the legacy they want to leave differs from their parents’ views on legacy.12

References:

  1. Canadian Survey on Disability, 2017 Statistics Canada website, released November 28, 2018. https://www150.statcan.gc.ca/n1/daily-quotidien/181128/dq181128a-eng.htm.
  2. Ibid.
  3. Statement from the Public Health Agency of Canada, Government of Canada website, last modified January 2, 2019. https://www.canada.ca/en/public-health/news/2019/01/alzheimers-awareness-month–january-2019.html
  4. “Humans Wanted: How Canadian youth can thrive in the age of disruption,” Research paper by Royal Bank of Canada, March 2018. https://www.rbc.com/dms/enterprise/futurelaunch/humans-wanted-how-canadian-youth-can-thrive-in-the-age-of-disruption.html
  5. Ibid.
  6. “Global Generations: A global study on work-life challenges across generations,” survey by EY, a global leader in assurance, tax, transaction and advisory services, 2015. https://www.ey.com/Publication/vwLUAssets/Global_generations_study/$FILE/EY-global-generations-a-global-study-on-work-life-challenges-across-generations.pdf
  7. Universities Canada website, “Facts and stats” page, accessed in January 2019. https://www.univcan.ca/universities/facts-and-stats/
  8. “Majority (56%) of Canadian Parents Not Taking Advantage of RESP Grants,” News release from Ipsos, August 29, 2017. https://www.ipsos.com/en-ca/news-polls/canada-parents-RESP-knowledge-first-financial
  9. 2016 CESP Annual Statistical Review, Government of Canada website, last modified March 9, 2018. https://www.canada.ca/en/employment-social-development/services/student-financial-aid/education-savings/reports/statistical-review-2016.html
  10. “Study: Which Families Invest in Registered Education Savings Plans and Does It Matter for Postsecondary Enrolment?, 1999 and 2012,” The Daily, Statistics Canada website, last modified April 12, 2017. https://www150.statcan.gc.ca/n1/daily-quotidien/170412/dq170412a-eng.htm
  11. “The New Canadian Legacy,” article by The Economist Intelligence Unit, RBC Wealth Management website, accessed in January 2019. https://www.rbcwealthmanagement.com/en-ca/insights/longevity-and-legacy-will-canadas-aging-population-change-the-way-we-give
  12. Ibid.

This document has been prepared for use by the RBC Wealth Management member companies, RBC Dominion Securities Inc. (RBC DS)*, RBC Phillips, Hager & North Investment Counsel Inc. (RBC PH&N IC), RBC Global Asset Management Inc. (RBC GAM), Royal Trust Corporation of Canada and The Royal Trust Company (collectively, the “Companies”) and their affiliates, RBC Direct Investing Inc. (RBC DI) *, RBC Wealth Management Financial Services Inc. (RBC WMFS) and Royal Mutual Funds Inc. (RMFI). *Member-Canadian Investor Protection Fund. Each of the Companies, their affiliates and the Royal Bank of Canada are separate corporate entities which are affiliated. “RBC advisor” refers to Private Bankers who are employees of Royal Bank of Canada and mutual fund representatives of RMFI, Investment Counsellors who are employees of RBC PH&N IC, Senior Trust Advisors and Trust Officers who are employees of The Royal Trust Company or Royal Trust Corporation of Canada, or Investment Advisors who are employees of RBC DS. In Quebec, financial planning services are provided by RMFI or RBC WMFS and each is licensed as a financial services firm in that province. In the rest of Canada, financial planning services are available through RMFI or RBC DS. Estate and trust services are provided by Royal Trust Corporation of Canada and The Royal Trust Company. If specific products or services are not offered by one of the Companies or RMFI, clients may request a referral to another RBC partner. Insurance products are offered through RBC Wealth Management Financial Services Inc., a subsidiary of RBC Dominion Securities Inc. When providing life insurance products in all provinces except Quebec, Investment Advisors are acting as Insurance Representatives of RBC Wealth Management Financial Services Inc. In Quebec, Investment Advisors are acting as Financial Security Advisors of RBC Wealth Management Financial Services Inc. RBC Wealth Management Financial Services Inc. is licensed as a financial services firm in the province of Quebec. The strategies, advice and technical content in this publication are provided for the general guidance and benefit of our clients, based on information believed to be accurate and complete, but we cannot guarantee its accuracy or completeness. This publication is not intended as nor does it constitute tax or legal advice. Readers should consult a qualified legal, tax or other professional advisor when planning to implement a strategy. This will ensure that their individual circumstances have been considered properly and that action is taken on the latest available information. Interest rates, market conditions, tax rules, and other investment factors are subject to change. This information is not investment advice and should only be used in conjunction with a discussion with your RBC advisor. None of the Companies, RMFI, RBC WMFS, RBC DI, Royal Bank of Canada or any of its affiliates or any other person accepts any liability whatsoever for any direct or consequential loss arising from any use of this report or the information contained herein.

®/TM Registered trademarks of Royal Bank of Canada. Used under licence. © 2024 Royal Bank of Canada. All rights reserved.


Let’s connect


We want to talk about your financial future.

Related articles

Boosting safety in an online-driven world

Research 11 minute read
- Boosting safety in an online-driven world

Canada’s first university north of 60

Research 9 minute read
- Canada’s first university north of 60

Farmer 4.0: How the coming skills revolution can transform agriculture

Research 4 minute read
- Farmer 4.0: How the coming skills revolution can transform agriculture