Financial vulnerability and work interruptions during the COVID-19 pandemic
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Released: 2020-05-06
The COVID-19 pandemic has led to massive work interruptions in Canada and several other countries since mid-March 2020. The resulting economic lockdown has raised concerns about the ability of Canadian families to meet their financial obligations and essential needs.
This study shows that lone-mothers, recent immigrants, Indigenous people living off-reserve and individuals living in families where the main income earner has little education would be quite financially vulnerable during temporary work interruptions if they did not receive any government transfers. For many of these families, liquid assets and private sources of income other than earnings are not sufficient to keep them out of low income during a two-month work stoppage.
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For more information, please see the article "Work interruptions and financial vulnerability" released today in the series StatCan COVID-19: Data to Insights for a Better Canada (45280001).
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