Nick has loaned people money with the same bills those customers used to repay their delinquent loans moments earlier.
Lianne Paul had to empty her RRSP in September.
Not because she’s retiring – far from it: The mother of three is in her 40s. And a year after crippling health issues, including PTSD, forced her out of her job, she’s still unemployed. Openings for the same administrative work she’d been doing for years require skills that didn’t exist during her original diploma program.
Before she could qualify for income assistance to help her get by while she looks for a job, Paul had to liquidate all her savings – including the retirement nest egg to which she contributed for a decade.
Canadians are struggling in today’s economy far more than the federal Conservatives realize, NDP and Liberal opposition critics say.
They point to analysis in a Global News series on Canada’s financial instability trapas proof the post-recession recovery is, for many families, an unfulfilled promise.
Global News asked to speak with newly minted Employment and Social Development Minister Pierre Poilievre to get his thoughts on our investigation into the labour and financial struggles plaguing Canadians.
He declined: “The Minister is in briefings all day for the next few days,” we were told last week.
So we sent questions via e-mail, instead, and received an e-mailed statement from his office in response.
Feb. 11, 2015 – Anna Mehler Paperny and Patrick Cain, Global News
Jillane Mignon just needed cash to pay for day care.
Her job with the City of Winnipeg’s 311 program covered the bills, but not the $1,000 a month it cost to care for her son while she was at work.
“When there are [child care] subsidies, there are no spaces. When there are spaces, there’s no subsidy.”
So it started with a small loan from a payday lender. That took care of that month.
The percentage of working-age Canadians who aren’t working – who aren’t even looking for a job – is at a historic high years after the economy supposedly bounced back from the recession. The labour participation rate for Canadian men in their working prime – ages 25 through 54 – is the lowest it’s been since Statistics Canada started collecting that data.