Alberta's Economy And The Great Debt Struggle

2016-11-01   minute read

Grant Bazian

MNP Consumer Debt Index

As Alberta continues to take hard economic knocks due to the price of oil in the international market, tens of thousands of people across the province are struggling under the very harsh realities of unemployment.

Person talking on a cellphone looking at spreadsheets on their laptop

With the provincial unemployment rate sitting at a national high of 8.5 per cent and no clear path to gainful work and prosperity in the near future, many are left wondering how they are going to make it from one bill payment to the next. In fact, MNP’s recent Consumer Debt Sentiment Survey revealed that 58 per cent of Albertans would be unable to keep up with payments if their monthly income was to decrease by just $200. As the price of crude oil continues to drag, it wouldn’t take a drastic event for household finances to shift by $200. If this is sounding a little too familiar, it might be time to seek out a debt professional. Options are available, but the time to act, is now.

The MNP Consumer Debt Sentiment Survey was conducted by Ipsos Reid and recently covered by the Calgary Sun. The original article was originally posted online at Calgary Sun on September 28, 2016.

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