REPORT: Almost Half Of Canadians Are Living Paycheque To Paycheque

A very different story on the economy than we hear from the elites.

A new survey from the Canadian Payroll Association reveals serious economic struggles being faced by Canadian workers.

According to the survey, 47% of Canadians say they would have trouble meeting their financial obligations if their paycheque was delayed by a week.

Additionally, 35% say they feel “overwhelmed” by the debt they are facing.

Mortgage debt is a rising concern, as 32% say that is the toughest debt for them to pay down, while 23% say credit card debt is the toughest.

Rising cost of living

As we know, higher taxes and increased regulations make the cost of living higher. We can see this in the survey results, with 32% saying the top reason for their increased debt is higher living expenses, with 25% saying unexpected expenses are the biggest reason.

As government becomes more expensive and intrusive – and less focused on providing basic services, infrastructure, and security – more money is taken out of the pockets of Canadians, and good jobs become tougher to find.

Despite some short-term growth, the true state of our economy is not good. After all, if the economy was really doing well, we wouldn’t have almost half of all workers living paycheque to paycheque.

Clearly, the economic consensus pushed by the elites has worked well for the beneficiaries of big government and “free trade.” Globalist corporations and banks have expanded in power, and immense wealth has been concentrated in the hands of a few. Yet, the vast majority of working-class and middle-class people have been screwed over, left with rising debt, higher taxes, and precarious jobs.

Until we focus on economic nationalism that apologetically puts our workers and our homegrown companies first above all others, the number of people living paycheque to paycheque will continue to rise.

Spencer Fernando

***

The elites want to hide their many failures behind political correctness, deception, and manipulation. We need to push back and spread the truth.

That’s why I write.

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Tinajack grandvilleLarry king Recent comment authors
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Larry king
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Larry king

The cost of living is out of control ! Food costs ! My wife and I can’t afford beef , buy mostly chicken . Tried to buy salmon yesterday ,all farmed salmon ,small piece 17 dollars asked for wild attendant went to deep freeze frozen 32 dollars ! How can my grandchildren buy a house , impossible . These prices have gone up over the last year !

jack grandville
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No doubt, sir, your comments are correct. They might even include those of us on a fixed income (pensions and so on) that do not allow for ‘stretching’ our budgets, or ‘adjusting’ in any fashion. Therein lay a major problem so often overlooked by those commenting on the average situation, as opposed to some very important realities faced by others. As usual, sir, an excellent analysis.

Tina
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Tina

The cost of living is frightening – I look at the prices in some grocery stores and shudder. Next year I shall be eligible for OAS – but according to the application form, website, and person at Service Canada, I should have kept the plane ticket and passport from when I went back to the UK in 1982 for a few years because my then-husband was very home-sick. You have to prove when you were out of the country for more than 6 months at a time. I emigrated in 1970, took out citizenship when eligible, but have been told… Read more »