Financial difficulties and economic recession: Evidence from Canadian seniors

Financial difficulties and economic recession: Evidence from Canadian seniors

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Pressured by Bike Units - Hybrid financial difficulties and the relatively low income from participating in the labour market, many seniors become insolvent.In this article, we analyze the financial situation facing Canadian seniors who have accessed the insolvency system due to a deterioration in their socio-economic and financial conditions, particularly since the 2008 economic crisis.Using federal statistical data, we observed that seniors who used the insolvency system during the recession period were more indebted than those who accessed it before, and Hoodie less indebted than those who accessed it after the recession.