Canadian bankruptcies jump 23% year-over-year in january

[trent]

According to Statistics Canada 10,700 Canadians filed for personal bankruptcy in January of 2009, which is a 23% increase year-over-year. I expect this number to go up sharply in the next few months.

[Canadian]

Yes, this is just the beginning. Everywhere around me people are taking paycuts and many are losing their jobs. This is not good...

[heyjude]

Yes, this is just the beginning. Everywhere around me people are taking paycuts and many are losing their jobs. This is not good...

Around me too - people are getting 5%-10% paycuts, not to mention there is absolutely no job security at the moment...

[Canadian]

Around me too - people are getting 5%-10% paycuts, not to mention there is absolutely no job security at the moment...

Just wait until the fall when the EI benefits start to dry up, for people laid off recently.

[trent]

They just released the stats for February bankruptcies in Canada and they are up 22.1% year-over-year:

http://strategis.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br02205.html

[Canadian]

They just released the stats for February bankruptcies in Canada and they are up 22.1% year-over-year:

http://strategis.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br02205.html

I'm not suprised the least. Actually the number is kind of low, if you ask me.

[bullish]

S sthe economy improves, so will the bankruptcies numbers.

[Tightwod]

Yr over Yr stats don't really tell you anything except that 2008 was a great year economically in this country until of course Oil crapped out. It would be more useful to compare the Bankruptcy figures to a historical avereage.

My 2 cents

[trent]

Yr over Yr stats don't really tell you anything except that 2008 was a great year economically in this country until of course Oil crapped out. It would be more useful to compare the Bankruptcy figures to a historical avereage.

My 2 cents

I'll try to find historical numbers and post them here...

[bullish]

Yr over Yr stats don't really tell you anything except that 2008 was a great year economically in this country until of course Oil crapped out. It would be more useful to compare the Bankruptcy figures to a historical avereage.

My 2 cents

Finally a more balanced perspective considering all the gloom-and-doom people posting on this forum :). The sky is not falling folks...

[trent]

I wasn't able to find historical bankruptcy numbers for Canada, however the trend from the previous year is up, actually way up and I don't see this changing anytime soon, with the huge debts people have.

[Tightwod]

Finally a more balanced perspective considering all the gloom-and-doom people posting on this forum :). The sky is not falling folks...

Touche..........! Manic Depressive I am not. The markets and the Media.... Are!

[Canadian]

Touche..........! Manic Depressive I am not. The markets and the Media.... Are!

Neither am I :). I like to think of myself as a realist.