One in every three Canadian families faces financial difficulties: Canada Statistics

By: 600011 On: Nov 6, 2023, 12:10 PM


According to Statistics Canada, one in every three Canadian families is suffering financial difficulty. According to the report, most people aged 15 and up are struggling to meet their necessities in October, including transportation, shelter, food, and clothing. According to the survey, 41.3 percent of renters are more likely to face financial difficulties than owner-occupiers with a mortgage. The survey also discovered that people who lived with owners who did not have a mortgage experienced less financial stress. 

Southern Ontario has the highest number of people living in economically challenged homes among Canada's biggest regions. 41.8 percent of respondents in the St. Catharines-Niagara area expressed financial difficulties. Financial hardship affects 41 percent of Windsor residents, 40.7 percent of Kitchener-Cambridge-Waterloo residents, and 38.1 percent of Toronto residents. The region of Quebec City has the lowest share, at 20.5 percent.