Economics
Soaring Unemployment Means One in Five Canadians Could Miss Payments
- Nanos Research finds 18-34 year old age group most at risk
- Survey underscores why policy makers have escalated response
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Millions of Canadians may soon find themselves unable to pay their bills as the Covid-19 shutdown puts them out of work, with no certainty to when normal activity will resume.
A new survey by Nanos Research Group for Bloomberg News shows that nearly one in five Canadians are at risk of missing a major payment in the next four weeks. That includes payments for a mortgage, loan, rent or credit card. Those 18 to 34 years old are the most vulnerable, with 26% saying they are prone to missing payments.