RBC Future Launch research shows young Canadians see new opportunities in a post-pandemic world of work despite still being concerned about their mental health

TORONTO, April 28, 2022 /CNW/ - An RBC Future Launch study of more than 1,800 Canadians aged 14-29 found that a large majority (79 per cent) believe COVID-19 has actually created new opportunities in the world of work.

RBC Future Launch Youth Outlook Study: Key Findings (CNW Group/RBC)

The data suggests that despite spending two years in various forms of lockdown, more than three-quarters (77 per cent) of young Canadians are satisfied with their lives, 60 per cent are working in a job in their desired field, and 71 per cent have avoided regular feelings of isolation. More than one-third of all youth (34 per cent) actually say the pandemic has even been a source of motivation.

"Despite a very difficult two years, young Canadians are telling us that they have persevered and are trying to embrace the new world of work that has been thrust upon them," said Mark Beckles, Vice-President, Social Impact and Innovation, RBC. "They see new opportunities in jobs that can be done online and that have more room for creativity. Our commitment to empowering young people to prepare for the jobs of tomorrow is stronger than ever and this study inspires us to find new and practical ways to build on the successes of RBC Future Launch."

While the study points to a clear sense of optimism and resilience among young Canadians, it also shows that the past two years have had a negative impact on youth mental health.

A quarter of youth surveyed (26 per cent) say mental well-being resources and services is the area of their lives where they need the most support.

According to the data, youth who identify as female, Indigenous, LGBTQ2S+ or having a disability are suffering the most. Females aged 18-29 not working in their desired field are more likely than males to say the pandemic is having a negative effect on their mental health. Indigenous, LGBTQ2S+ and youth with a disability are the most likely to rate various aspects of their life as 'poor' or 'terrible'.

Regionally, Quebec youth have highest degrees of happiness (74%) and levels of excitement about their future. At the other end of the spectrum, youth in Manitoba and Saskatchewan are the least optimistic and struggling the most in terms of their outlook.

"Young people across Canada are telling us that they are hanging in there, but that they do need support – in some regions more than others," added Beckles.

RBC Future Launch is a decade-long, $500 million commitment to empowering Canadian youth for the jobs of tomorrow. RBC is committed to acting as a catalyst for change, bringing government, educators, public sector and not-for-profits together to co-create solutions to help young people better prepare for the future of the work through practical work experience, skills development, networking and access to mental well-being supports and services. In 2020, RBC committed to investing $50 million from now to 2025 through RBC Future Launch to create meaningful and transformative pathways to prosperity for up to 25,000 BIPOC youth with investments in areas such as skills development and mentoring.

In response to COVID-19, RBC pivoted to reach young people virtually through RBC Future Launch at Home and the RBC Future Launch Future Ready Summit.

Study Methodology

A sample of n=1800 young Canadians (aged 14-29 years) was collected through the Ipsos online I-Say panel. For those under 18 years of age, permission from a parent/guardian was required before they could participate in the study.

Interviews were completed in both English and French between January 21 and February 18, 2022.

Weighting was employed to balance demographics to ensure that the sample's composition reflects that of the young adult population according to census data. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ±2.6 percentage points, 19 times out of 20, had all young Canadians been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

About RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 88,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

RBC (CNW Group/RBC)

SOURCE RBC

Copyright 2022 Canada NewsWire

Royal Bank of Canada (TSX:RY)
Historical Stock Chart
From May 2022 to Jun 2022 Click Here for more Royal Bank of Canada Charts.
Royal Bank of Canada (TSX:RY)
Historical Stock Chart
From Jun 2021 to Jun 2022 Click Here for more Royal Bank of Canada Charts.