The Canadian financial community, as well as the government, definitely keeps busy finding statistics and reporting on them throughout the year. While some of them may not seem as relevant at first look, others point to what is happening at the household level to our residents.
One of those key stats for us is the measurement of disposable income against debt owed. And, at the end of 2023, it reached a record mark of more than 15%. The lack of disposable income affects potential spending and also affects economic perception overall.
In our latest blog, we wanted to share these latest stats and talk about the reasons why companies should be on watch. We hope you take a few minutes to read it. Thanks again for your interest in our customer communication and debt collection services.