Debt among Canadian millennials at record levels, while earnings haven’t kept up: RBC report ...Middle East

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Debt among Canadian millennials at record levels, while earnings haven’t kept up: RBC report
Canadian millennials are more likely to face the brunt of a wavering labour market as most face mounting debt with an income that fails to keep up with inflation, according to a report from RBC Economics. The report released on Wednesday said Canadian millennials are more vulnerable to serious financial burdens if job losses continue to rise in their age bracket. July marked the third consecutive month Canada’s overall unemployment rate has increased; the rate stood at 5.2 per cent in May before it rose to 5.5 per cent in July, according to Statistic Canada. The data, based on changing average mortgage rates between January 2019 and January 2023, found older millennials between th

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