File photo: The Canadian Press
If the latest MNP survey is an indication, the COVID-19 pandemic is putting a significant financial hurt on British Columbians.
Three in 10 British Columbians claimed they are unable to pay their bills and debt repayment obligations each month, which represents an 8% jump since the last survey in June. That 30% figure is also the highest among all Canadian provinces. A total of 44% of respondents said they are $200 or fewer away from being insolvent at the end of each month.
“Those who have lost employment or wages are struggling with financial uncertainty,” MNP’s Linda Paul said in a press release. “To make matters worse, many aren’t sure whether their job will still be around after the pandemic.”
Worry about job security is prevalent, as 49% of respondents are concerned that they or someone in their household could lose their job. That’s an 11% increase from June and the highest proportion compared to other provinces.
Finally, 45% of respondents indicated they are worried about their current level of debt, which represents the highest percentage since 2017.
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