January 22, 2026
RED FM News Desk
New data from Statistics Canada suggests a growing number of Canadians are facing financial pressure as job insecurity and rising debt collide.
The number of Canadians receiving regular Employment Insurance (EI) benefits climbed from 482,000 in November 2024 to 566,000 in November 2025—an increase of 84,000 people in just one year. At the same time, household debt levels continue to rise, adding to concerns about the financial resilience of many families.
According to the Credit Counselling Society (CCS), the average person seeking help from the organization carried $34,800 in unsecured debt in 2025, up from $32,447 the year before. Unsecured debt includes credit cards, lines of credit and personal loans, often used to cover day-to-day expenses.
Together, the trends point to growing vulnerability among Canadians with significant fixed costs such as mortgages, rent, child care and other family obligations. For these households, even a short-term drop in income can quickly lead to missed payments and mounting stress.
At CCS, counsellors say they are hearing daily from Canadians struggling to cope with the rising cost of living amid uncertain employment conditions. While some are still managing to keep up with bills, others report relying increasingly on credit for essentials like groceries, utilities and transportation.
“Rising EI claims don’t just reflect job losses—they highlight broader financial pressures facing households,” CCS experts say. They note that people with high fixed expenses are particularly exposed to income disruptions, even when EI benefits are available.
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