Canadian Insolvencies Rise 7.9% In Q3Insolvencies are climbing as lockdowns ease, although they haven’t gone above last year’s levels. There were 35,535 insolvencies filed in Q3 2020, up 7.9% compared to the previous quarter.
Of the 35.535 insolvencies, 34,708 were consumer insolvencies and the balance of 827 were business insolvencies.
Behind every 'statistic' is a personal story
When statistics like this are published it is easy to only see them as 'numbers' in some economic abstract. However, behind each of those insolvencies is a human story of struggle, huge emotional turmoil, stress that turns the stomach and makes sleep impossible, family upheavel, alcohol and drug abuse, spousal violence and on and on the list goes.
If our 'health officers' consider the collateral damage they are causing with their myopic approach to health care it will be interested to see the outcome when they are being held accountable for their decisions.