Everyone’s real cost of living changed in 2021. The ongoing Global pandemic had an unforeseen ‘fourth wave’ across North America, children under the age of 12 began their vaccinations, unseasonal weather affected most of the West and port closures, factory shutdowns, product halts and labour shortages are about to negatively affect the Winter Consumer buying season of November to April. How will this affect everyone’s buying power, this Winter?
The Global Supply Chain has failed over the last few months, due to the reliance on the ‘just in time’ delivery method favoured by large companies over the last few years. It will take many months for things to ramp back up to the ‘situation normal’ we have all become used to. Look for less items on Canadian store shelves, not just over Christmas, but into Easter 2022. This will affect a lot of households and businesses.
From a Macro business view, we can, sadly, look forward to more layoffs in the labour market in early 2022. Most of the plans that businesses had earlier this year, simply will not be able to be followed through on due to the situations noted above, rising inflation and less shoppers.
Although ‘The Great Resignation’ will be felt more acutely South of the Border, Canada’s professional classes have also taken the opportunity to reorder their lives and businesses have seen a more than 20% turnover, with Toronto’s downtown office space vacancy rate getting close to a 10% level.
Banks and Financial Services are looking to raise rates as the overall economy gets more ‘green’ and whole industries struggle to pivot into more profitable concerns. Of course, this means rate rises, some think as much as 4%.
The Federal Government may well be forced to grow Benefits as more and more people change the directions of their lives and take advantage of the weak economic outlook of the next few months. How will this uncertainty affect you?
The entire consumer financial world is changing and if you are concerned about how your festive season will look this year – the first in two years! A payday loan may be a good short-term fit for you if you are looking at financial changes over festive season. Once looked as untrustworthy, Canadian’s now have both Provincial and Federal laws that protect both the borrower and lender of Payday cash online loans in the Country. If you feel that a short-term cash loan is for you and that a large-scale, cross-country, Canadian supplier is the most trustworthy, then you can now access these services from your own home – just like your High Street bank.
We have all been through a lot over the last 2 years. Are you ready to enjoy your year-end celebrations and are you able to look at different economic methods such as online payday loans to ensure it? It’s no longer the ‘forbidden’ way to do things and your Canadian financial supplier will be able to answer all of your questions on 'loans near me'.