Saturday, March 25, 2023

Survey finds that nearly 60 percent of Canadians have difficulty supporting their families

A new survey finds that nearly 60 percent of Canadians have difficulty providing enough food for their families.

An Angus Reed Institute survey released Friday shows that 57 percent of Canadians recently reported finding it difficult to feed their families, an increase of 36 percent since the question was last asked in 2019.

Inflation plays a role in this figure, the report indicates, as Canadians are dealing with the highest level of inflation in 30 years.

Data released on Wednesday from Statistics Canada found that the prices of commodities such as cooking oil (41.4 per cent) and white sugar (21.6 per cent) saw significant increases between December 2020 and December 2021.

The Angus Reed Institute also calculated the “Economic Stress Index (ESI)”, which combines concerns over debt, housing costs, household food costs, a participant’s financial situation over the previous year, and the expected financial situation for the next year. and divides the respondents into four categories. : thriving, comfortable, uncomfortable and struggling.

Using ESI, the Angus Reed Institute found that 98 percent of those who struggle find it difficult to support their families.

“For those who are thriving, the cost of food is manageable, or later than previously thought,” the survey said. “For those who are uncomfortable or struggling, keeping food on the table can be a major challenge.”

Struggling class people are not very optimistic about their future wealth, as just 8 per cent indicated that they expect to be in a better financial position this time next year.

Overall, 27 per cent of the respondents fall in the struggling category, while 24 per cent each fall in the affluent and comfortable category and 25 per cent in the uncomfortable category.

“In Newfoundland and Labrador, where nearly half (45%) are classified as struggling, many are without jobs,” the poll notes. “The province’s unemployment rate in December was nearly double the national average, and oil production fell last year despite a rebound in energy prices.”

Quebec, on the other hand, had the highest proportion of residents considered affluent (33 percent) and the least considered struggling (19 percent).

The survey also found that 39 percent of Canadians believe their financial situation has worsened in the past year, the highest number of Canadians reporting a bad financial situation during 13 years of tracking from the Angus Reed Institute. Is.

Overall, people in Alberta (49 percent), Saskatchewan (47 percent) and Newfoundland and Labrador (47 percent) were most likely to report poor financial status in the past year.

Nation World News Desk
Nation World News Desk
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