Connect with us

Business

Air Canada employee says staff trained to ‘dupe’ passengers at risk of being bumped from oversold flights

Published

on

[ad_1]

A pair of Air Canada insiders are shedding light on the airline’s policy of overselling flights, revealing what they say is a widespread practice of duping passengers into believing they have a seat on a plane and stringing them along until the last possible moment.

As a way to try to maximize revenues, airlines are allowed to sell more plane tickets for a flight than there are available seats, but the former and current ticket agents who spoke with Go Public say Air Canada is less than transparent with customers who are likely to be denied boarding because a flight has been oversold.

“It’s never fun to have to lie to people,” said the former customer sales and service agent, who worked at Air Canada’s check-in counter at Vancouver International Airport for several months before quitting just over a year ago.

“I had to tell people over and over again that they were gonna get on the plane, when I knew that they might not.”

The other insider, a longtime Air Canada ticket agent who still works for the airline and trains employees, says he is now one of the people teaching new agents to not be forthcoming.

“I say to the new hired agents, ‘You can’t put up with confrontation all day long. If someone has ‘GTE’ [for “gate”] on their boarding pass, it means they don’t have a seat. But if you explain that to them, they’ll get upset. So just send them to the gate,'” he told Go Public.

“I train people to dupe passengers.”

The day he spoke with Go Public, he said he’d pointed dozens of Air Canada customers to a gate knowing they didn’t have a seat.

CBC has agreed not to identify the current and former Air Canada employees because doing so could jeopardize their current employment.

Air Canada says the practice of overselling is carefully managed, and employees are trained to be transparent with customers.

‘Every route could be oversold’

The former Air Canada agent said he contacted Go Public because he wanted travellers to know how often staff are forced to scramble to find seats for passengers stuck on oversold flights.

“I was shocked,” he said. “I had no idea that Air Canada was doing this at this scale.”

I told them they had nothing to be worried about, and it absolutely killed me.– Former Air Canada ticket agent

It didn’t matter if passengers were flying within Canada, to the U.S. or overseas, he said. 

“Every route could be oversold.”

‘It absolutely killed me’

The former agent says he quit because he couldn’t take the stress of constantly misleading customers.

As an example, he tells the story of an excited family flying together for the first time. When they checked in, their boarding passes didn’t have assigned seats.

“I just felt awful about it, but I had to say that they were going to have a great trip, and push them through [to the gate],” he said.

“They ended up not getting on. I tracked them, and they were bumped. It was the last flight out that day.”

A former Air Canada agent tells Go Public’s Erica Johnson that he became so distraught about lying to passengers about overbooked flights, it took a toll on his health. (Dillon Hodgin/CBC)

He remembers a couple on their way to a honeymoon in Hawaii, who didn’t have confirmed seats on an oversold flight.

“I told them they had nothing to be worried about, and it absolutely killed me,” he said. “The chances of them making it on [the flight] were slim to none.”

In another case, a passenger who was on his way to have life-changing surgery in Alberta the next day stood a good chance of getting bumped from a flight, he said.

“I had to do a complimentary upgrade to make it happen — which is something that I shouldn’t have done. But at the end of the day, he needed to get on that plane.”

Your seat ‘will be assigned at the gate’

The former agent says he was told during training not to inform customers at the check-in counter that the reason they don’t have an assigned seat is because the flight was oversold.

“Nobody wants panic from the second of check-in. That’s not fun for the company to have to deal with,” he said. 

“I really wasn’t able to tell people exactly what was going on and give them the full picture. They were strict about that. We’re trained to tell them that … they have nothing to worry about.”

He says he also felt badly for colleagues working at the gates, who had to deal with passengers once they learned the flight was oversold and they didn’t have a seat.

Air Canada responds

Go Public requested an interview with Air Canada, but the airline declined.

In an email, spokesperson Angela Mah disagreed with many of the allegations made by the current and former Air Canada employees, and dismissed the impact of overselling.

“Overselling … accounts for less than 1 per cent of passengers booked,” wrote Mah, explaining that the airline flew approximately 51 million customers in 2017/18.

Air Canada says overselling ‘benefits customers by keeping fares lower’ and allows the airline to operate less-travelled routes. (Pat Fogg/CBC)

That one per cent amounts to 510,000 tickets oversold, but Mah says only a fraction of that number results in customers being denied boarding because “several million customers per year no-show.”

Mah pointed out that overselling is approved by the Canadian Transportation Agency and is a “common practice amongst many international network airlines to ensure the maximum number of seats are filled on a departing flight.”

Overselling “benefits customers by keeping fares lower” and allows the airline to operate less-travelled routes, Mah said.

She also said the bigger reason passengers end up with no seat on a plane is due to “overbooking” — when an aircraft is replaced with a smaller plane, for a host of potential reasons including mechanical issues. 

She would not confirm how often this happens, saying those numbers are “commercially sensitive” and an unavoidable reality for all airlines — including Air Canada’s competitor, WestJet. 

WestJet told Go Public it does not “intentionally oversell” seats.

Internal documents obtained

Internal documents on Air Canada’s employee website explain that the airline oversells flights because its management team “is tasked with ensuring that the maximum revenue potential is made on each and every flight.”

In 2017, Air Canada reported a profit of $2.04 billion, more than double what it earned the previous year. Figures for 2018 will be released shortly.

The website says the airline “uses a sophisticated system” to “calculate the acceptable level of oversell risk.”

It then explains what Air Canada agents should do in the event there are more passengers than seats for a flight.

A screenshot of an internal Air Canada website. It instructs agents to ‘make the compensation sound as attractive as possible’ when trying to entice passengers to give up their seats on oversold flights.

“When flights are oversold there is certainly a level of stress for both the gate agent and customers involved,” the website says.

“Soliciting volunteers to travel on later flights not only fulfills our legal requirements, but may also assist the gate agent in alleviating some of that stress. Making announcements for seeking volunteers [to give up their seats] makes a positive impression on our customers, by demonstrating that we are trying our best to accommodate all of our customers.”

The Air Canada agent who works in a busy airport says accommodating customers can sometimes be extremely difficult.

“It’s hell for us to have to turn these passengers away,” he said.

“Kids are crying. Saying, ‘Daddy, you promised we’d be [there] for dinner’ and I have to explain that the flight is oversold.”

Business passengers are ‘most valuable’

Fred Lazar, an airline industry analyst and associate professor of economics at York University’s Schulich School of Business, says one reason passengers might get bumped from a flight is because Air Canada has focused on servicing the country’s business sector — frequent flyers who want an international network of flight options and often pay premium fares for the flexibility of changing their flights last minute.

“Top-tier passengers are the most valuable,” Lazar said. 

“So [the airline] will bend over backwards to accommodate them, even if it means bumping some basic economy passengers from the airline and enduring the bad publicity for a short time.”

Airline industry analyst Fred Lazar says airlines accommodate their elite customers first. The passengers most likely to be bumped, he says, are infrequent, economy-fare flyers. (Joe Fiorino/CBC)

The former Air Canada agent who spoke with Go Public says one way to ensure you have an actual seat on a plane is to log on to Air Canada’s website 24 hours before the flight to choose a seat. Or, pay a fee for seat selection when you buy your ticket.

“Anyone who has a seat assigned to their ticket when they get to the airport never has to worry about being put on standby,” he said.

Harder to claim compensation

Regardless of why an airline has more passengers than seats on a flight, new federal airline regulations coming down the runway will make it harder for travellers to claim compensation if they’re denied boarding, says Gabor Lukacs, founder of a Canadian advocacy group called Air Passenger Rights.

Currently, airlines must seek volunteers to give up their seats before denying anyone boarding. Passengers who are involuntarily bumped are entitled to compensation — up to $1,350 — depending on the airline, destination and length of the delay.

The new proposed regulations provide higher compensation, but require the passenger to prove they were denied boarding due to an oversold flight caused by a situation within the airline’s control.

“This is impossible to show,” Lukacs said.

“Passengers don’t have access to the airline’s reservation system. They don’t know how big the aircraft is. They don’t know how many seats were sold. Moreover, in situations where the airline moves passengers against their will to other flights, it is going to look as if the flight was not oversold.”

Air passenger rights advocate Gabor Lukacs says the federal government’s new proposed regulations will make it difficult for passengers to get compensation after they’ve been involuntarily denied boarding because the airline oversold a flight. (David Laughlin/CBC)

Lukacs says Canada should be emulating European standards, where anyone with a valid ticket who doesn’t get on their plane is considered to have been denied boarding — and is eligible for compensation.

“In Canada there is no excuse for drafting a definition so narrowly that people who pay their hard-earned dollars for their seats won’t get compensated when they are denied boarding on their flight,” he said.

‘Heavy penalties’ coming

Minister of Transport Marc Garneau says the new regulations won’t ensure everyone has a guaranteed seat, but will hold airlines responsible for denied boarding.

“They’re not going to get out of anything,” Garneau told Go Public, pointing to stiffer penalties in the new regulations.

He says there will be “heavy penalties” if a passenger is denied boarding because the airline oversold its flight — in some cases up to $2,400.

Email campaign

Lukacs says bigger fines are meaningless if passengers can’t prove they qualify for compensation.

His organization has started an email writing campaign for people to tell the federal government that the proposed air passenger rights regulations are inadequate.

So far, almost 5,000 people have participated in the campaign. The deadline for public feedback on the draft regulations is Feb. 20.

“Canadians are fed up with how airlines treat them,” he said.

Submit your story ideas

Go Public is an investigative news segment on CBC-TV, radio and the web.

We tell your stories and hold the powers that be accountable.

We want to hear from people across the country with stories you want to make public.

Submit your story ideas at Go Public.

Follow @CBCGoPublic on Twitter.

[ad_2]

Source link

قالب وردپرس

Business

Majority of Canadian workers willing to take less pay for a workplace pension plan: survey

Published

on

By

A majority (70 per cent) of Canadians say they’re willing to forgo a higher salary in exchange for a workplace pension plan, according to a new survey for the Healthcare of Ontario Pension Plan by Abacus Data.

The survey, which polled more than 2,000 Canadian adults in April, signals an opportunity for employers to build back the post-coronavirus pandemic working landscape better by expanding access to good retirement plans — whether they’re defined benefit, defined contribution or group registered retirement savings plans, says Steven McCormick, senior vice-president of plan operations at the HOOPP.

According to the survey, a secure retirement remains of greater concern for Canadians than concerns about their health, debt load and job security. McCormick says this has been a consistent worry the HOOPP has seen in survey results over the past couple of years. Nearly half (48 per cent) of respondents said they’re very concerned about having enough money in retirement, while 31 per cent were highly concerned about their personal debt load and 26 per cent cited their job security. Close to half of respondents expressed high concerns for their physical (43 per cent) and mental (40 per cent) health.

In addition, the pandemic has harmed the finances of more than half (52 per cent) of Canadians’ surveyed and it’s had a particularly disproportionate affect on the finances of younger adults. Adults aged 44 and younger said they’re twice as likely (25 per cent) to have had their finances greatly harmed, compared to those over the age of 60 (12 per cent).

Generally, younger adults tend to work in roles that may have been impacted most by the pandemic, says McCormick, whether in service industries that were shut down or frontline health care that have been busy but don’t always come with access to a pension plan. “Affordability is an issue, so I think their worries increased during this time.”

And while almost half (46 per cent) of Canadians surveyed said they’ve saved more money than they would have since the onset of the pandemic, among these respondents, over half (52 per cent) didn’t put any of their savings toward their retirement. Overall, most (63 per cent) Canadians surveyed haven’t set aside or saved anything for retirement in the past year, a five-point increase since 2019.

McCormick says this may be due to uncertainty or hesitancy about whether people’s immediate needs outweigh longer-term needs. And with 55 per cent of respondents noting they were very concerned about the cost of day-to-day living, he adds that rising prices have fuelled insecurity and worries so people are creating their own emergency funds right now.

While there’s a segment of the population who’ve saved more and, for them, the pandemic has created wealth, he doesn’t see this as a common narrative in the survey data. “If you don’t have access to a workplace pension or the opportunity to have things like automatic enrolment, the uncertainty of the time may have you holding onto money,” says McCormick. “In Ontario, we’re more optimistic about the pandemic than we were maybe a month ago, but there are still people worrying about whether there’ll be a fourth wave.”

In addition, more than two-thirds (67 per cent) of respondents said a retirement crisis is looming and 65 per cent said saving for retirement is prohibitively expensive. It’s a common and shared dream for many people in looking forward to a secure retirement, says McCormick, noting for many, making that dream a reality remains elusive.

Continue Reading

Business

What Canadians need to know about moving to the U.S. for more affordable real estate

Published

on

By

Like many real estate markets around the world, U.S. home prices have run up during the pandemic to the point of some saying it’s in bubble territory.

But the whole time and for years before, Canada has said “hold my beer” as prices rocket through the stratosphere in a number of major markets.

The discrepancy really jumps off the page in comparisons of the most recent benchmark prices and household income. As the chart below from Karl Schamotta, chief market strategist at Cambridge Global Payments, comparing Canada to the U.S. shows, a picture paints a thousand words, especially when it’s presented as an exploding gif.

Jessy BainsThu., June 24, 2021, 6:43 p.m.·9 min read

A U.S. flag decorates a for-sale sign at a home in the Capitol Hill neighborhood of Washington, August 21, 2012. President Barack Obama said on Monday the U.S. housing market was
Home prices have run up in the U.S. but are mostly more affordable than major Canadian markets.(REUTERS)

Like many real estate markets around the world, U.S. home prices have run up during the pandemic to the point of some saying it’s in bubble territory.

But the whole time and for years before, Canada has said “hold my beer” as prices rocket through the stratosphere in a number of major markets.

The discrepancy really jumps off the page in comparisons of the most recent benchmark prices and household income. As the chart below from Karl Schamotta, chief market strategist at Cambridge Global Payments, comparing Canada to the U.S. shows, a picture paints a thousand words, especially when it’s presented as an exploding gif.https://platform.twitter.com/embed/Tweet.html?creatorScreenName=JessySBains&dnt=true&embedId=twitter-widget-0&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3R3ZWV0X2VtYmVkX2NsaWNrYWJpbGl0eV8xMjEwMiI6eyJidWNrZXQiOiJjb250cm9sIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1388165660598063104&lang=en&origin=https%3A%2F%2Fca.finance.yahoo.com%2Fnews%2Fwhat-canadians-need-to-know-about-moving-to-the-us-for-more-affordable-real-estate-131344769.html&sessionId=06d9c3e7619ac1c3744b64cd9cc60845665a4a57&siteScreenName=Yahoo&theme=light&widgetsVersion=82e1070%3A1619632193066&width=550px

The situation has gotten so bad for first-time buyers that many may have given up. Ontario is home to markets with the biggest recent run-ups. A survey by Right at Home Realty found 74 per cent of younger Ontarians aged 18 to 34 say they may never be able to afford a home where they currently live.

Michelle Makos, broker-owner at Royal Heritage Realty, sells real estate for a living but doesn’t like what she’s seeing, especially after a conversation with her recently engaged daughter who wants to buy a first home.

“She made a comment that they may have to move to the United States to find something they can afford and truly I would hate to lose my children simply because they feel like the housing situation here is out of their reach,” Makos told Yahoo Finance Canada.

“Being in real estate, it just made me realize, the one thing I love doing is the one thing that could cost me my daughter, if she were to leave.”

So she took to Twitter to see if other Canadians were feeling the same way as her daughter. She conducted a Twitter poll that showed many were in the same boat.

She was flooded with messages from frustrated Canadians who were seriously considering leaving the country because of high home prices and shared many of them on Twitter. She eventually put a selection of the messages she received in a handy document for everyone to see.

Jessy BainsThu., June 24, 2021, 6:43 p.m.·9 min read

A U.S. flag decorates a for-sale sign at a home in the Capitol Hill neighborhood of Washington, August 21, 2012. President Barack Obama said on Monday the U.S. housing market was
Home prices have run up in the U.S. but are mostly more affordable than major Canadian markets.(REUTERS)

Like many real estate markets around the world, U.S. home prices have run up during the pandemic to the point of some saying it’s in bubble territory.

But the whole time and for years before, Canada has said “hold my beer” as prices rocket through the stratosphere in a number of major markets.

The discrepancy really jumps off the page in comparisons of the most recent benchmark prices and household income. As the chart below from Karl Schamotta, chief market strategist at Cambridge Global Payments, comparing Canada to the U.S. shows, a picture paints a thousand words, especially when it’s presented as an exploding gif.https://platform.twitter.com/embed/Tweet.html?creatorScreenName=JessySBains&dnt=true&embedId=twitter-widget-0&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3R3ZWV0X2VtYmVkX2NsaWNrYWJpbGl0eV8xMjEwMiI6eyJidWNrZXQiOiJjb250cm9sIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1388165660598063104&lang=en&origin=https%3A%2F%2Fca.finance.yahoo.com%2Fnews%2Fwhat-canadians-need-to-know-about-moving-to-the-us-for-more-affordable-real-estate-131344769.html&sessionId=06d9c3e7619ac1c3744b64cd9cc60845665a4a57&siteScreenName=Yahoo&theme=light&widgetsVersion=82e1070%3A1619632193066&width=550px

The situation has gotten so bad for first-time buyers that many may have given up. Ontario is home to markets with the biggest recent run-ups. A survey by Right at Home Realty found 74 per cent of younger Ontarians aged 18 to 34 say they may never be able to afford a home where they currently live.

Michelle Makos, broker-owner at Royal Heritage Realty, sells real estate for a living but doesn’t like what she’s seeing, especially after a conversation with her recently engaged daughter who wants to buy a first home.

“She made a comment that they may have to move to the United States to find something they can afford and truly I would hate to lose my children simply because they feel like the housing situation here is out of their reach,” Makos told Yahoo Finance Canada.

“Being in real estate, it just made me realize, the one thing I love doing is the one thing that could cost me my daughter, if she were to leave.”

So she took to Twitter to see if other Canadians were feeling the same way as her daughter. She conducted a Twitter poll that showed many were in the same boat.https://platform.twitter.com/embed/Tweet.html?creatorScreenName=JessySBains&dnt=true&embedId=twitter-widget-1&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3R3ZWV0X2VtYmVkX2NsaWNrYWJpbGl0eV8xMjEwMiI6eyJidWNrZXQiOiJjb250cm9sIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1395756831100882947&lang=en&origin=https%3A%2F%2Fca.finance.yahoo.com%2Fnews%2Fwhat-canadians-need-to-know-about-moving-to-the-us-for-more-affordable-real-estate-131344769.html&sessionId=06d9c3e7619ac1c3744b64cd9cc60845665a4a57&siteScreenName=Yahoo&theme=light&widgetsVersion=82e1070%3A1619632193066&width=550px

She was flooded with messages from frustrated Canadians who were seriously considering leaving the country because of high home prices and shared many of them on Twitter. She eventually put a selection of the messages she received in a handy document for everyone to see.https://platform.twitter.com/embed/Tweet.html?creatorScreenName=JessySBains&dnt=true&embedId=twitter-widget-2&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3R3ZWV0X2VtYmVkX2NsaWNrYWJpbGl0eV8xMjEwMiI6eyJidWNrZXQiOiJjb250cm9sIiwidmVyc2lvbiI6bnVsbH19&frame=false&hideCard=false&hideThread=false&id=1397895446048169985&lang=en&origin=https%3A%2F%2Fca.finance.yahoo.com%2Fnews%2Fwhat-canadians-need-to-know-about-moving-to-the-us-for-more-affordable-real-estate-131344769.html&sessionId=06d9c3e7619ac1c3744b64cd9cc60845665a4a57&siteScreenName=Yahoo&theme=light&widgetsVersion=82e1070%3A1619632193066&width=550px

“We as a country can do better,” said Makos.

But not so fast if you’re like any of these people and thinking of moving across the border. There are a number of things to consider.

Immigration rules for moving from Canada to the U.S.

The first thing to consider is immigration laws. If you work from home, you can’t just grab your laptop and start working from the U.S.

Sara Herbek, managing partner at Global Immigration Associates, says you need a U.S. employer to sponsor you and be qualified for a TN or L-1 visa.

“If a Canadian employer has a U.S. entity, this could potentially be another option, however, it depends on the visa category,” Herbek told Yahoo Finance Canada.

It’s the same deal if you plan to work for a U.S. employer.

“Canadians are able to present TN and L-1 visa petitions at the border (now by air is recommended versus by land),” said Herbek.

“In other visa categories, the employer would need to file the visa petition with United States Citizenship and Immigration Services (USCIS) and obtain approval first.”

Herbek says it’s important to have all of the correct paperwork when entering the U.S. to avoid being turned away.

“They should ensure they have original documents when appearing at the border: approval notice, as applicable, educational documents, birth or marriage certificates,” said Herbek.

Mortgage rules for buying a home in the U.S.

Unless you’re lucky enough to be able to buy a home outright, you’ll need a mortgage and things are mostly similar to obtaining a mortgage in Canada if you’re moving to the U.S. permanently, but with some key differences.

Rob Mclister, mortgage editor at RATESDOTCA says one of them is proof of income.

“It may be harder to prove income to the U.S. lender’s satisfaction if you have already moved to the U.S. before applying for a mortgage,” Mclister told Yahoo Finance Canada.

“That’s because most mainstream U.S. lenders generally want to see at least two years of U.S. tax returns. If this is the case, find a good broker in the U.S. to advise you.”

If you plan to buy before your immigration and job situation are sorted out, Mclister says most lenders will want 20-25 per cent down instead of the 5 per cent minimum in Canada.

Continue Reading

Business

Canadian Mortgage Debt Hits $1.69 Trillion, Fastest Rate of Growth Since 2010

Published

on

By

Canada is experiencing a real estate boom, and it’s fueled by a flood of cheap mortgage debt. Bank of Canada (BoC) data shows mortgage credit reached a record high in April. That’s no longer a surprise since it’s a regular occurrence, but the rate of growth is noteworthy. Canadians added the equivalent of 6% of GDP to mortgage debt over the past year. It’s now growing at the fastest rate in a decade, as people scramble to buy as much house as possible. 

Canadian Mortgage Debt Hits $1.69 Trillion, After Growing 6% of GDP

Canadian mortgage debt reached a record high, adding a massive amount in just a short period. The balance reached $1.69 trillion in April, up 1.06% ($17.74 billion) from the month before. The annual increase works out to 7.80% ($122.25 billion), which is just a mind-blowing number. For context, $122.25 billion is the size of ~6% of the country’s GDP. With this kind of scale, it shouldn’t be a surprise how dependent the economy is on real estate. 

Canadian Residential Mortgage Debt

The outstanding dollar amount of residential mortgage credit held by Canada’s instituional lenders.

Canadian Mortgage Debt Is Growing At The Fastest Rate Since 2010

The rate of mortgage growth isn’t just high for this period — it’s high by historical standards. The annual rate of growth is the largest seen since 2010. For the month of April, you need to go a little further back — to 2009. Usually, during a recession, it’s difficult to get households to borrow. In Canada, households ramped up the borrowing and purchases of expensive goods.

Continue Reading

Chat

Trending