The latest bankruptcy figures for the province of Alberta, among the worst hit by the recent decline in the energy industry, have been released. The figures show a slight decrease of almost 3% month over month between March and April 2016. The total bankruptcies filed in Alberta (consumers and businesses) hit 500 in the month of April. That’s down by 15 filings from the month of March. April’s figure it is still up nearly 36% year-over-year.
We’ll wait for next months data to see if the downward trend continues. Decreasing bankruptcy filings do not necessarily indicate that the economy is in full recovery. The total monthly filings still remains comparatively high, even with the slight decrease.