Northern Canada Consumer Insolvency Trends
By Ken Rowan, with data to April 2023
Data source: see notes following
Yukon, Northwest Territories, Nunavut
Monthly Filings
A five-year chart of consumer insolvency filings in Canada’s north.
Consumer Proposals
Annual File Growth
To measure growth we compare total filings in the 12 months ended April 2023 with those in the 12 months ended April 2022.
Cities
Annual Growth Rates
| City | 12.mos.to.Apr2023 | 12.mos.to.Apr2022 | Change | Percent Change |
|---|---|---|---|---|
| Whitehorse | 40 | 29 | 11 | 37.9% |
| Yellowknife | 29 | 42 | -13 | -31.0% |
Forward Sortation Areas
Most Active This Month
FSAs numbers for the current month and their 10-year mean from 2013.
| FSA | FSA.Place.Name | City | April2023 | Mean | April2023.over.Mean |
|---|---|---|---|---|---|
| X1A | Yellowknife | Yellowknife | 5 | 3.3 | 150.9% |
| X0E | Central Northwest Territories (Inuvik) | Rural Area | 2 | 1.7 | 118.7% |
| X0A | Outer Nunavut (Iqaluit) | Rural Area | 1 | 0.4 | 232.7% |
| Y0A | Southeastern Yukon (Watson Lake) | Rural Area | 1 | 0.2 | 516.7% |
| Y1A | Whitehorse | Whitehorse | 1 | 2.6 | 38.8% |
| X0B | Central Nunavut (Cambridge Bay) | Rural Area | 0 | 0.1 | 0.0% |
| X0C | Inner Nunavut (Rankin Inlet) | Rural Area | 0 | 0.2 | 0.0% |
| X0G | Southwestern Northwest Territories (Fort Liard) | Rural Area | 0 | 0.0 | 0.0% |
| Y0B | Central Yukon (Dawson City) | Rural Area | 0 | 0.4 | 0.0% |
Annual Growth Rates
We average over 10 years the number of monthly files in FSAs in The North without filtering. We compare the number of files in the 12-month period ended April 2023 to those in the 12-month period ended April 2022 to calculate growth.
| FSA | FSA_Place_Name | City | 12.mos.to.Apr2023 | 12.mos.to.Apr2022 | Change | Percent Change |
|---|---|---|---|---|---|---|
| X0G | Southwestern Northwest Territories (Fort Liard) | Rural Area | 1 | 0 | 1 | Inf% |
| Y0A | Southeastern Yukon (Watson Lake) | Rural Area | 6 | 2 | 4 | 200.0% |
| X0A | Outer Nunavut (Iqaluit) | Rural Area | 11 | 6 | 5 | 83.3% |
| X0C | Inner Nunavut (Rankin Inlet) | Rural Area | 5 | 3 | 2 | 66.7% |
| Y1A | Whitehorse | Whitehorse | 40 | 29 | 11 | 37.9% |
| Y0B | Central Yukon (Dawson City) | Rural Area | 7 | 6 | 1 | 16.7% |
| X0B | Central Nunavut (Cambridge Bay) | Rural Area | 2 | 2 | 0 | 0.0% |
| X0E | Central Northwest Territories (Inuvik) | Rural Area | 18 | 25 | -7 | -28.0% |
| X1A | Yellowknife | Yellowknife | 29 | 42 | -13 | -31.0% |
Notes and Data Sources
FSA and Forward Sortation Area are protected terms for the benefit of Canada Post Corporation.
Data sources: The Office of the Superintendent of Bankruptcy (“OSB”), Innovation, Science and Economic Development Canada, data sets 2013 to April 2023, https://open.canada.ca/
We report on only consumer bankruptcies and consumer proposals as defined by the OSB. For definitions, see https://open.canada.ca/
Ken Rowan is a retired Licensed Insolvency Trustee and a retired CA, CPA.
Questions or Comments? Email debtsgo.ca