Nearly half of Canadian renters live paycheque to paycheque — and the novel coronavirus pandemic is bound to strain their finances more, according to a report released by the Canadian Centre for Policy Alternatives on Monday.
Nearly 3.4 million Canadian households that rent earn income via employment or self-employment, according to Statistics Canada data from 2016.
The CCPA report found that 46 per cent — or 1.6 million households — of those Canadians have savings to last them one month or less.
Beyond that, 24 per cent don’t have savings to get through even one week without pay. “For those who have already lost their jobs, come March 31, what should they do?