The increased cost of living in
B.C. coupled with the country’s highest rate of working-age people living in
is likely behind a sharp increase in the use of payday loans in
this province, according to Canada’s largest credit union.
A study by Vancity shows the use
of payday loans in B.C. jumped 58 per cent between 2012 and 2014 to the
point where nearly 200,000 adults use the service.
“The surprise for us is just how
the numbers have changed so rapidly,” said Vancity senior vice-president Linda
Morris. “To see payday loan usage up nearly 60 per cent [is] troubling to
She said even more troubling is
more people now have many loans — “people with 15 payday loans has skyrocketed
by 600 per cent.”
January 29, 2016 06:00 AM
Crowds of young people milled in
the streets as residents inspected the damage. Few voiced support for the
looting, but they warned that people were cracking under economic hardship
“What happened here was mostly
stealing,” said Moez Hlel, 28, who works as a cook.
He said he had seen looters
carrying off a refrigerator the night before. “But in other places people are
poor; they do not have enough to eat.”
“People are fed up; they cannot
take it anymore,” he said, grasping his throat in a choking gesture.
“From the top to the bottom, the
officials are corrupt,” he said.
Over five million jobs may be lost
over the next five years globally due to the fourth industrial revolution and
other socio-economic and demographic changes, but India and GCC countries are
among a few countries with positive employment outlook, a new study showed on
...redundancy, automation or
disintermediation, with the greatest losses in white-collar office and
Filed on January 18, 2016