A recent CBC News poll indicates a deepening affordability crisis in Alberta, with a record number of residents finding it difficult to cover their monthly expenses. The poll highlights the impact of rising costs and broader economic uncertainty on Albertans’ financial stability.

Record Number of Albertans Facing Financial Strain

The latest data shows that 59% of Albertans are finding it somewhat or very difficult to make ends meet. This represents an eight-percentage-point increase since last spring, marking the highest level of financial difficulty in eight years of CBC News polling.

Widespread Economic Pessimism

This financial strain is coupled with significant economic pessimism. 67% of Albertans believe it is a bad time to make major purchases, such as homes or cars. The rising cost of living is forcing families to make difficult choices, including downsizing and cutting back on essential spending.

Personal Stories of Financial Hardship

Jamieson Gardiner of Airdrie recently moved his family into a smaller basement suite and now walks an hour to work to save money. He notes that rent now exceeds mortgage payments for many of his friends.

James Simpson, a father of seven, now spends nearly $1000 per visit to Costco, compared to $400 in the past. Newcomers to Canada, like Oluwaseun Biodun, are increasingly relying on credit cards to cover expenses.

Truck driver Joel Vijayan is also feeling the impact of rising fuel costs, which are consuming a significant portion of his income.

Vulnerable Groups Particularly Affected

The situation is especially challenging for unemployed individuals, with 85% reporting difficulty covering expenses. Nearly half of seniors (46%) are also facing financial hardship.

Factors Contributing to the Crisis

Economic anxiety is fueled by global factors, including U.S. tariffs, sluggish global growth, and the ongoing conflict in the Middle East, which is driving up fuel prices. Many Albertans are experiencing a substantial increase in grocery bills.

Growing Pessimism About Alberta’s Economy

Pollster Janet Brown notes that people are feeling uncertain about the economy and their personal financial situations, leading to a more cautious approach to spending.

51% of Albertans believe the economy is getting worse, a 10-percentage-point jump since last spring. This level of pessimism hasn’t been seen since the early days of the COVID-19 pandemic.

Notably, even a majority of United Conservative Party supporters (63%) are reporting difficulty paying their bills, indicating that economic concerns are crossing political lines.