About half of Cana­dian work­ers are liv­ing pay­cheque to pay­cheque: sur­vey

Truro Daily News - - CANADA -

TORONTO — A new sur­vey by the Cana­dian Pay­roll As­so­ci­a­tion sug­gests nearly half of work­ers are liv­ing pay­cheque to pay­cheque due to soar­ing spend­ing and debt lev­els.

The poll found that 47 per cent of re­spon­dents said it would be dif­fi­cult to meet their fi­nan­cial obli­ga­tions if their pay­cheque was de­layed by even a sin­gle week. The sur­vey, which polled 4,766 Cana­dian em­ploy­ees be­tween June 27 and Aug. 5, also found that 35 per cent said they feel over­whelmed by their level of debt.

For the first time in the sur­vey’s nine-year his­tory, more re­spon­dents found mort­gages on prin­ci­pal res­i­dences the most dif­fi­cult debt to pay down, with 32 per cent of re­spon­dents se­lect­ing this op­tion com­pared to 23 per cent who cited credit card debt. Re­sults from the poll in­di­cate that the pri­mary rea­son for in­creased debt is higher over­all spend­ing. Of the ma­jor rea­sons for in­creased spend­ing, 32 per cent of re­spon­dents pointed to higher liv­ing ex­penses while 25 per cent men­tioned un­ex­pected ex­penses. The polling in­dus­try’s pro­fes­sional body, the Mar­ket­ing Re­search and In­tel­li­gence As­so­ci­a­tion, says on­line sur­veys can­not be as­signed a mar­gin of er­ror be­cause they do not ran­domly sam­ple the pop­u­la­tion.

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