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May 4, 2021 – FOR IMMEDIATE RELEASE
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(Calgary) Over a year into the pandemic, almost one-half of Albertans are feeling financial pain from COVID-19’s economic consequences, with the vast majority not expecting a return to “normal” until at least the end of 2021. According to the latest provincial ThinkHQ Public Affairs survey, fully 46% of Albertans say they have personally experienced financial setbacks over the past year (with one-in-ten suffering serious financial challenges), and most believe we will be living with societal constraints like social distancing and masks, restrictions on business operations, large events, and travel, etc. until at least the end of this year, if not longer.
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DETAILED FINDINGS
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The COVID-Economy’s Impact on Personal Finances
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Almost one-half (46%) of Albertans report that they have personally been negatively impacted financially by the economic downturn associated with COVID-19 (compared to 52% who have not). Thankfully, 18% report their financial setbacks have been “Modest” in the sense that while they are worse off today than they were a year ago, they feel they should be fine financially. In contrast, one-in-ten (10%) characterize their financial situation as “Severe”, meaning they are having serious difficulties managing their budgetary commitments right now. Another 18% say their pocket-book challenges are “Moderate”, meaning diminishing finances have created significant challenges for them, but they are managing alright for now.
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- Edmonton residents report the lowest levels of economic disruption (39%) while those living in Central Alberta have been hardest hit (57%)
- Women (50%) are suffering more economic hardship than men (42%), as are those with the most modest incomes (61%), and those with children in the home (53%)
- Older Albertans (55+) are the most insulated from the economic downturn, with only 38% reporting any negative disruptions
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When will be return to “normal”?
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Vaccines may be going into a growing number of arms in the province, but most Albertans feel we will be living with COVID-19 limitations for some time to come. When asked when they feel things will “largely be back to normal” (i.e. no longer wearing masks, requiring social distancing, businesses operating normally, safe large events and travel, etc.), most of those interviewed believe the pandemic will not be truly “over” until at least the end of 2021, and perhaps beyond.
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Only one-in-ten (10%) of Albertans forecast an end to the pandemic to coincide with the end of summer, while 20% (cumulative total) feel we’ll be back to normal by the end of October. Indeed, only a plurality (46% in total) believe we will be free of COVID-19 by the end of 2021, with another 44% expecting lingering COVID limitations into the new year.
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- Men are more optimistic about the end of the pandemic than women (53% saying we’ll be back to normal by year’s end vs. 38% respectively)
- Income and age are related to views about the pandemics’ end. Over one-half (51%) of younger Albertans see normality by the year’s end compared to 42% of those 55+. Similarly, those with higher incomes are more optimistic (53%) than those with the most modest incomes (33%)
- Those who have been financially impacted by the pandemic are considerably more pessimistic about its conclusion than those who have not – 33% of those hardest hit feel it will be over by year’s end vs. 49% respectively
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Commentary
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ThinkHQ Public Affairs Inc. President Marc Henry notes the following on these survey results:
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“COVID-19 turned 2020 into an absolute dumpster fire, and the public mood going into 2021 was hopeful. With a quarter of the year now behind us, Albertans don’t appear ready to pop any champagne corks to celebrate the pandemic’s end in the immediate future.
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Its entirely understandable. Economically, COVID, combined with underlying economic weakness in Alberta, has been deeply punishing. Almost half of Albertans are suffering financially today as a result, some truly hanging on by their financial fingertips, and the longer these conditions persist, the more difficult it will be.
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Circumstances today offer a very strange mixture of hope and angst in the public. We have an ever-growing number of Albertans who are getting their vaccines, bringing us closer to a day when ‘herd immunity’ will keep this virus at bay. Yet, we are also clearly riding the upside of a powerful ‘3rd wave’ of the pandemic, with case counts climbing, variants spreading quickly, and hospital beds and ICUs filling.
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Albertans don’t seem to believe 2021 will be a ‘great’ year, but perhaps a bit better than 2020, and a hope that 2022 will at least gets us back to normal.”
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Click here to view the full release and methodology
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Media Inquiries:
Marc Henry
President, ThinkHQ Public Affairs, Inc.
Marc@ThinkHQ.com