COVID-19 poll reveals: Fil-Can youth most affected financially
COVID-19 poll reveals: Fil-Can youth most affected financially
By Ysh Cabana
The Philippine Reporter
TORONTO—A recent survey shows that young Canadians and those from certain communities including Black, Indigenous and People of Colour (BIPOC)—many of whom were already financially vulnerable prior to the COVID-19 pandemic— are among the most likely to face financial difficulties, job losses and reduced income due to the spread of novel coronavirus.
The poll commissioned by TD Bank found 66 percent of respondents between the ages 18 and 34 have experienced or anticipate experiencing unemployment or reduced hours compared to 38 percent of those aged 55 and above. That puts them at more risk of being unable to meet basic financial obligations like rent or satisfy basic necessities like food.
About 70 percent of Filipino, 65 percent of South Asian and 64 per cent of Black Canadians expect to face unemployment or a reduction of income within the next three months as a result of COVID-19, compared with 53 percent of the general population surveyed.
Almost 30 percent of people with disabilities expect to miss their rent or mortgage payments because of the pandemic, but only 20 percent of the general population is expecting to be in the same situation.
Nearly 30 percent of Indigenous people expect to borrow money for essentials, versus the 19 percent documented for the general population.
The metrics suggested that ethnic minorities are more likely to feel financially adrift. Around three tenths of South Asian (27 percent), Indigenous Peoples (30 percent), and Canadians of Chinese descent (31 percent) said they feel they know who to turn to for financial advice, compared with the 40 percent of the general population surveyed.
The poll was conducted by Northstar Research Partners, a global strategic research firm. From April 20 and May 6, a total of 936 online interviews were made with English- and French-speaking respondents in Canada, 38 percent of whom identified as financially vulnerable, up from 15 percent in November 2019.
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