The latest TransUnion debt report shows total debt continued to grow in the first quarter compared with the year before, driven mainly by young people and newcomers.

The credit-tracking agency says gen Z consumers saw their outstanding balances grow 30.6 per cent from the prior year{ai:summary}TransUnion's latest debt report reveals that total debt increased in the first quarter compared to the previous year, primarily fueled by young individuals and newcomers. This trend highlights the growing financial pressures faced by these demographics. #economy

Young people and newcomers fuel runaway debt growth: report

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