Association for Canadian Studies president Jack Jedwab said the most striking finding in the survey is the unequal challenges Canadians have faced over the last year
One-third of Canadian households say their financial situation has worsened over the last year, with families in lower income brackets more likely to report being worse off, a new poll suggests.
The majority of respondents, 58 per cent, said their financial situation was about the same as it was a year ago.Jack Jedwab, president of the Association for Canadian Studies, said the most striking finding in the survey is the unequal challenges Canadians have faced over the last year, with those in lower income brackets feeling the largest pinch.
“People … in lower income brackets are finding the pinch particularly difficult in terms of the effects of the inflation and higher interest rates and so forth,” Jedwab said. Economists say lower-income households are especially vulnerable to inflation because they save less, leaving less of a buffer in the face of high inflation. That means higher prices take a larger bite into their budgets.The survey also found Quebecers were the least likely to report their financial situation has worsened, while respondents in British Columbia were the most likely to report being worse off.
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