The latest data on Canadian insolvencies shows an increase in insolvencies.
The Office of the Superintendent of Bankruptcy Canada says that although there was a decrease in November compared to the previous month, the 12-month figure shows a rise of 2% for the period ending November 30, 2018 compared to the previous 12-month period.
Bankruptcies in the 12 months were lower, by 5% to 55,381; but consumer proposals jumped 8.4% to 69,537.
The largest percentage gain was 500% in Nunavut but this was from 1 to 6 people. There was an 12% rise in Newfoundland and Labrador, taking the 12-month figure to 2,776.
Yukon and Nova Scotia were the only provinces to record decreases in insolvencies in the 12-months to November 30, 2018 compared to the previous 12 month period.
Business insolvencies increased 0.6% over the 12 months led by the construction and retail trade industries while mining, oil & gas extraction, and manufacturing saw the largest decreases.
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