Visible minorities most affected financially by the COVID-19

Les minorités visibles plus affectées financièrement par la COVID-19

Already generally more fragile financially, the employees from visible minorities appear to have been more affected economically than the general population by the pandemic COVID-19, according to a survey from TD Bank revealed Thursday.

About “69 % of Canadians of filipino origin, 65 % of Canadians of south asian origin, and 64 % of Black canadians have suffered a loss of employment or a reduction in their income because of the COVID-19 or intend to undergo such consequences during the next three months, compared to only 53 % in the general population survey”, has informed the financial institution of toronto press.

Among Aboriginal people, approximately 28 % of them say that they will have to borrow to meet their basic expenses due to the sars coronavirus, compared to 19 % of the average of the respondents surveyed.

People with disabilities also seem to do more in the face of financial challenges. About 27 % of them believe that they will have difficulty to pay their rent or their mortgage in a timely manner due to the COVID-19, while the proportion is only 20 % on average.

The young people also

The youth say they are also more affected than the average according to the stroke of the probe of the TD Bank.

Approximately 66 % of respondents 18 to 34 years have faced a loss of employment or hours of work because of the COVID-19, or planning to do in the face of, against 38 % of respondents 55 years of age or more. “Therefore, young people are more at risk of having difficulty meeting their financial obligations to the basics, like paying for groceries, or the rent or the mortgage,” said the bank.


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