The number of personal consumer and business bankruptcies in a region are a measure of whether individual or business finances are healthy and able to withstand difficult times.
Personal bankruptcies were up 10% in Niagara from 2006 to 2007.
Figure 32 % Change in Number of Personal Bankruptcy Claims 2007-2008
Source: http://www.hoyes.com/personal-bankruptcy-statistics-2007-2006.htm
While business bankruptcies are down to a 25 year low in Canada, Niagara had an increased number of business bankruptcies filed from 2007 to 2008, up by 11.5%, and topped only by Oshawa in the province of Ontario.
Figure 32 % change in Number of business Bankruptcies 2007-2008.
Source: http://strategis.ic.gc.ca/epic/site/bsf-osb.nsf/en/home
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